Joining Costco could be a great move for your personal finances. The money you spend on a membership ($60 a year for a basic and $120 a year for an Executive) may be more than worth it when you consider how much cash you could free up for your savings account by shopping Costco for groceries, household products, and more.
But if you want to make the most of your Costco membership, you’ll need to know the ins and outs of how the store works. And you’ll also need to make sure you don’t buy into these big myths.
1. Costco always has the lowest prices
Because Costco offers food items and household essentials in bulk quantities, you’ll often pay less per ounce or unit at Costco than at another store. But that’s not always the case.
Sometimes, all it takes is for your local grocery store to put a given item on sale, and suddenly, its per-box or per-unit price is lower than Costco’s. So rather than assume that Costco’s price is automatically the best, do your research.
Also, make sure to buy your bulk items strategically. At Costco, you might pay less per ounce of cheese or per strawberry than at a regular supermarket. But if you don’t consume those items before they expire, you might end up paying more in the form of food waste.
2. You can return any item to Costco at any time
Costco generally has a very flexible and generous return policy. And it’s true that you can return most items at any time without a hassle. In fact, just recently, a Costco member returned a couch after two years of use, and Costco issued them a full refund.
But there are certain items you can’t return to Costco after you buy them, and others that can only be returned within a specific time frame. With electronics, for example, you get 90 days to make a return. And alcohol and cigarette purchases can’t be returned at all. The same holds true if you buy tickets to a live event through Costco. It’s a good idea to familiarize yourself with the store’s return policy so you don’t end up in a bind.
3. You’re only allowed one free sample per station
One of the best parts of shopping at Costco is enjoying free samples along the way. But don’t assume you can only sample each item once.
Costco puts those samples out so that customers can try new products and, ideally, buy them and take them home. So if you need a second bite to make a more solid decision on an item you’re not familiar with, go for it.
That said, if there’s a long line of people behind you waiting on a given sample, the courteous thing is to make sure everyone gets one before you grab a second. But otherwise, go ahead and chow down. You might even end up full enough that you don’t need to spring for a food court lunch.
The more you know about Costco, the better your membership can serve you. As such, don’t buy into these specific myths. They could end up costing you money or, in the case of food samples, costing you a second tasty bite of something awesome.
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