I currently have a Costco Membership which expires end of this month. It cost me $50 CDN buy-in fee for the priveledge to shop at that store for one year. I initially decided to join the Costco Club because I wanted to save some money. I thought buying some of my food items in bulk would lower my grocery bill. I also love to read and Costco has some decent bestseller book sales, not to mention some of deals one can get on the clothes there so I figured maybe my clothes bills would decrease as well. But things did not happen as planned. After a year of being a Costco member, I have decided not to renew my membership.
I live in a two bedroom apartment, I have a small kitchen. Buying in bulk doesn’t work too well for me. My little freezer won’t hold the value packs of chicken I bought, my pantry doesn’t appreciate being crammed with those jars of condiments I brought home. After my first shopping trip to Costco, my family was eating chicken, Edamame and Teriyaki Bowls all month because we didn’t want the food to start spoiling on us and we needed the room back in our fridge. That was not a fun month food-wise.
Then I found that when I looked at Costco’s current book selection each time I went, I realized that I could read the same book at the local library, and their prices were the same if not similar to the Real Canadian SuperStore’s so I didn’t need to buy into a membership at all to get decent prices for similar books I really wanted to own. I didn’t save any money on books from Costco since I didn’t buy any of their books.
As for the clothes, there were some pieces that were a good deal at Costco and I bought a couple of items from them, but again, I felt that it was bit of a crap shoot in that they often did not have the items I needed and the sizes that fit me (I am a size 2-4 and they seem to tend to carry sizes 6 and above only). Also, I could easily go to many discount clothing stores around town and get similar deals. Plus Costco has no fitting rooms (unless I totally didn’t see them).
I did appreciate Costco for the movie coupons and the laundry detergent. My boyfriend and I like to watch the occasional blockbuster at the SilverCity Theatres. Costco carries coupons that admit two plus popcorn and two drinks (read more about this and other movie deals in Saving Tips: At The Movies). I am quite happy to see a movie sans snacks, but my boyfriend insists that a movie with no popcorn and pop is no fun, so the coupon is worth it for us. The detergent is awesome - Ecos 100% Natural Earth-Friendly cold water washes 210 loads for approximately $24. These seem like great deals for me but I did the calculations… The savings we got from buying the movie coupons and detergent all year was exactly the amount of the membership. Ergo, we didn’t really save any money at Costco. In fact, Costco cost us more in terms of time. It took me around 6 hours extra per month (on top of shopping at my usual supermarket) shopping at Costco.
I have my regular supermarket where I shop each week - I go to the local Real Canadian SuperStore because it’s close to home and the prices are not bad. Also, it carries almost everything I need in terms of food, some housewares and even some clothes. My point is that I like one-stop shopping, at least when it comes to groceries, other consumables and some other types of essentials (like undies). I cannot one-stop shop at Costco. For me, Costco is an extra place to shop.
I met a woman at a party a few months ago who used to spend at least half of every Saturday shopping for groceries because she insisted her family wanted bread from this particular store, that the veggies were better at another store, shop at Costco for her bulk items, etc. She shopped at five different places for her regular weekly groceries! And the kicker is that she didn’t enjoy doing it. I am not willing to do that. (BTW, this is a whole post in itself, stay tuned).
Although I am saying good-bye to my membership, I know of others who do benefit from what Costco has to offer. A friend of mine owns a big home; her kitchen is huge and she has two freezers and she needs them for her big and still growing family. Costco is her friend since she buys bulk and freezes what she doesn’t immediately consume. She will definitely continue her membership and so I will be giving her some cash each month starting July to buy me my favorite detergent and movie coupons when she goes to Costco for her monthly spree. (Now that’s smart shopping, no?)
Looking for more tips to save some cash? Then be sure to visit the Saving Tips section of this website.
Years ago I brutalized my Saturdays shopping with my Aunt at Costco. By the end of the spree I would feel exhausted, irritable and cheated out of money. My cart was never really loaded up and yet I would easily be writing out a check for $200. To overcome buyers remorse I would remind myself that in the long run I would be saving money… not true. I finally ditched the membership and started cutting out coupons. I don’t miss my Costco membership anymore - I agree with your article about feeling like it is a bit of a crap-shoot when shopping for clothes at Costco, I’ve never successfully bought one piece of clothing there for the same reasons as size. On the other hand Super Store seems to be more realistic. I strongly support your move to save the $50 fee and drop the membership! You’ll probably not regret it
Thanks for the tips though - great article, will look forward to the continuation!
Interesting article. I have a Costco membership and while there are some benefits (my husband once got a waterproof winter anorak there for under $100 that lasted him 5 years!), I agree with some of your points. The bulk food really isn’t worth it for us either as we’re a 2-person family. Plus everyone knows someone with a Costco membership if there’s something you really want/need. I’ll have to think about this and maybe take out a calculator or make a pro/con list before deciding whether to renew at the end of the year. It’s a much longer drive than to our local grocery store, and I’m learning that time really does equal money. Maybe I’ll have to check out the Real Canadian Warehouse Club (I think that’s the name) which is closer to us and has no yearly fee.
I couldn’t agree more! Costco isn’t much of a deal for small families. My Costco saving tip is to find a friend with a Costco memebership and piggyback on theirs whenever they go. That way, it costs me nothing for the membership and I get to buy their pickled asparagus (only $5! everwhere else is close to $10) without feeling compelled to buy anything else.