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Does a Warehouse Membership Save You Money? (Costco, Sam's Club, BJ's) - Duration: 3:46.(cheerful folk music)
- Hi, I'm Kelli from freebiefindingmom.com.
And today, we're gonna answer the question
of whether or not a warehouse membership
is gonna save you cash or just be a waste of your money.
To determine if a warehouse club is right for you
and your family, we first have to look
at the membership cost.
To become a Gold Star member, for instance, at Costco,
you're gonna spend $60 a year.
And to become a Gold Star Executive member is $120 a year.
What a Gold Star Executive membership gives you
is, basically, the ability to earn 2% back
on eligible Costco items and Costco travel purchases.
Plus, you'll get some extra perks
when it comes to Costco's services.
Now, in order to select the Gold Star Executive membership,
you're gonna need to recoup that extra $60 in annual fees.
You're gonna have to spend $3,000 a year,
just to break even on the Gold Star membership.
And you're gonna have to spend $6,000 a year,
just to break even on the Gold Star Executive membership.
Or basically, $500 a month, you're gonna have
to spend at that store.
If you don't typically spend that much
on food and household items each month,
then joining a warehouse club
is not gonna be right for you and your family.
But if you do tend to spend that much,
then go ahead and take a closer look at warehouse clubs.
Look at the items they carry.
And do they carry enough of the items
that you need to regularly buy?
And are they cheaper than what you typically would pay?
If they're not cheaper, then don't join that warehouse club.
Don't buy items just to justify the cost of joining.
Make sure that you do your homework
and know your prices for the items
that you need and typically buy.
So you're not wasting your money
by overpaying at these warehouse clubs.
Also factor in whether or not you use coupons.
If you do, remember that warehouse clubs
don't accept coupons, except for BJ's Wholesale Club.
They do accept paper coupons but not digital coupons.
Make sure you know your price points
on the items that you regularly buy.
And don't just know the retail price.
Know the price that you typically pay,
meaning after sales and after coupons.
And don't buy an item at a warehouse club
that's more expensive, just because it's more convenience.
That brings me to my next point.
Know what kind of shopper that you are.
If you're someone who can make a list
and stick to that list, then a warehouse club
might be right for you.
But if you're someone who is susceptible to impulse buys,
run away from a warehouse club, and fast.
Warehouse clubs typically have loads of great items
that are going to catch your eye.
Like, for instance, who wouldn't love
two pounds of Cheese Balls?
But you need to be able to resist the temptation
and to be able to stick to a list
and buy only the items that you need
and would regularly buy.
So to recap.
When deciding if a warehouse membership
is going to save you cash or be a waste of money,
you need to be able to answer "yes"
to these three questions:
If you answered "yes" to those three questions,
then run to your favorite warehouse club
and start racking up the savings, today.
(cheerful folk music) But first, if you will,
please give this video a "thumbs up."
Be sure to click "Subscribe" to my YouTube channel.
And if you will, follow me on Instagram.
Thanks so much for watching.
(mumbles) Grrr!
(whispers and chuckles)
Oh, my gosh.
It's so much harder than I thought.
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