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If you’re a Costco member, you’re probably well aware that shopping there regularly has the potential to save you money big time. But even if you’re a seasoned shopper at Costco, there may be steps you can take this year to free up even more cash for your savings account. With that in mind, here are three New Year’s resolutions for Costco members to employ.
1. Put an end to impulse buys
When you’re walking the aisles of a store like Costco, it can be difficult to avoid falling victim to temptation. There’s just so much inventory to consider, and the deals can be really appealing.
Plus, Costco tends to rotate its offerings on a seasonal basis. If you’re a huge fan of all things pumpkin, you might have a hard time saying no to the giant cheesecake version of it you’ll commonly find in Costco’s bakery section come October.
But while impulse buys at Costco are certainly understandable, they can also hinder your financial goals if you make them too often. So this year, pledge to take a shopping list with you every time you go to Costco, and actually stick to it. This means don’t go off-list, even if you see a seasonal item you’re convinced will be gone in a flash.
2. Stop overbuying to cut down on Costco trips
For some people, visiting Costco is an enjoyable experience. For others, not so much. If you fall into the latter category, you may be in the habit of buying extra things at Costco to minimize your return trips. But frankly, that’s not such a great strategy for a store that has you buying in bulk off the bat.
Let’s say you decide to buy three gallons of milk instead of two so you can potentially avoid having to go to Costco two weeks in a row. What may end up happening in that situation is that you don’t need the third gallon of milk so soon, and half of it spoils on you at some point.
Now that said, you have more leeway when it comes to non-food items. If your favorite paper towels go on sale at Costco, by all means, buy more if you have the space to store them. But aim to stop buying extra food, especially that of the perishable variety.
3. Start buying premade meals instead of relying on takeout
If you’re a busy person, you may be inclined to fall back on takeout meals instead of spending hours each week grocery shopping and cooking. But if you have a Costco membership, you have a prime opportunity to buy pre-made dishes there that might cost a lot less than ordering from a restaurant.
Costco’s chicken pot pie for example, might cost you around $26 for a giant dish that weighs over five pounds. It may be enough to feed your entire family on its own without any side dishes. A takeout meal of a comparable quantity might cost double.
Shopping at Costco could mean saving a bundle of money on food and household essentials this year. Add these pledges to your list so you can benefit financially even more from your membership.
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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Maurie Backman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.
