Shopping at Costco is a wonderful thing – for some people. You can purchase Kirkland Signature brand products, which have a dedicated following. You can buy household products in bulk to pay a lower price. And you can save even more if you pay with a good cash back or rewards credit card.
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Unfortunately not everyone however, takes advantage of a Costco trip. In fact, you should watch out for these three signs that avoiding Costco is the best idea for your checking account.
1. You save a fortune with coupons
According to a study by CouponFollow, the average American household could save $1,465 per year by using coupons, including $316 in savings on groceries and food at home, and $272 in savings from purchasing other household items with coupons.
However, not everyone uses coupons wisely. And some people who do become experts at it are likely to save a lot more. If you fall into the first group and aren’t interested in looking for coupons, Costco probably offers some of the best deals for you. But if you fall into the latter group, you should not shopping at Costco.
Costco doesn’t accept manufacturer coupons, so you lose the opportunity to take advantage of a savings technique that works for you. Don’t give up your coupon habit, which can sometimes help you get items for free or for a few cents on the dollar just because of the promise of Costco deals. Instead, continue shopping at your current grocery and drugstores.
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2. You like shopping online
If you are an online shopper, you may want to avoid Costco.com. The site charges a higher price than you pay when purchasing in the store. There’s very little reason to sign up for a Costco membership, only to lose out on most or all of the savings that come with shopping online.
If you don’t want to give up your online shopping habit in favor of regular trips to the department store club to make purchases in person, then you should probably forego Costco altogether. If you buy primarily online, this simply won’t get you the best deals, and you’ll be better off with another retailer designed for the digital experience.
Many of the best credit cards offer strong fraud protection to keep your card safe when you use it online And also offer generous rewards. Since the Costco warehouse only accepts Visa cards, you can choose from a wider selection of great rewards cards that you can sign up for if you pass up Costco in favor of your favorite digital stores.
3. You have no storage space
Costco is known for offering bulk deals, but you’ll need a place at home to store all that stuff. According to a study by StorageCafe, 38% of Americans use self-storage. Those with homes between 1,500 and 3,500 square feet make up the bulk of customers for self-storage facilities.
If you’re already so short on space that you have to pay for a separate place to store your belongings, adding 300 rolls of toilet paper or enough canned chili to hold a festival isn’t going to make your life any better.
If you recognize yourself in these three signs, skip Costco altogether. Your efforts to save money there will likely backfire and you’re better off holding on to your coupons, continuing to buy from your favorite online sellers, or maintaining enough space to move around your home without turning over an industrial container of mustard every time. to throw. time to head to the kitchen for a snack.
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We strongly believe in the Golden Rule. Therefore, editorial opinions are ours alone and have not been previously reviewed, approved or endorsed by the included advertisers. The Ascent does not cover all offerings on the market. Editorial content from The Ascent is separate from editorial content from The Motley Fool and is created by a different analyst team. Christy Bieber has positions at Visa. The Motley Fool holds positions in and recommends Costco Wholesale and Visa. The Motley Fool has a disclosure policy.
3 Signs You Should Avoid Costco Shopping at All Costs was originally published by The Motley Fool
