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There’s some good news on the inflation front — it seems to be easing. November’s Consumer Price Index showed an annual enhance of 3.1%, which is a lower level than what we’ve seen in recent months.
But even so, you might still be eager to save money during your regular shopping in 2024. And if that’s your goal, here are three stores you may want to add to your rotation.
1. Costco
Who it’s especially good for: Larger households, people with ample storage, people who cook a lot
Costco is known for its bulk offerings in categories that extend to household essentials and food. You might reap big savings at Costco by purchasing items in bulk that your household uses regularly.
For example, on Costco.com (which tends to have higher prices than Costco stores), a 60-count of Chewy granola bars is $11.99, resulting in a cost per bar of $0.20. At Stop & Shop, a popular grocery chain, a box of eight costs $3.99, which is about $0.50 per bar.
Of course, for a Costco membership to make sense, you’ll need to make sure you have enough storage space to stash the bulk purchases you bring home. But a Costco membership could pay off if you have a larger household to feed, or if you’re someone who does a lot of cooking and can therefore go through bulk groceries pretty quickly.
Right now, a basic Costco membership costs $60 a year, while an Executive membership that gives you 2% back on your purchases costs $120. But you may be surprised at how quickly you can make your membership fee back, especially if you shop at Costco fairly often.
2. Aldi
Who it’s especially good for: People who aren’t picky about brands, people with flexible schedules who have time to make multiple trips to the store
Most of the items you’ll see on Aldi’s shelves are made by brands you’ve probably never heard of. But it’s for this reason that Aldi can offer such competitive prices on the items it stocks. So if you’re someone who isn’t so particular about brands, Aldi is a good bet.
That said, one hiccup you might confront when shopping at Aldi is that the store’s inventory isn’t always so consistent. If you work a demanding arrange and barely have time to grocery shop, then Aldi may not work for you. But if your arrange is more flexible and you don’t mind running to the store twice a week instead of just once, then you may find that the savings you reap at Aldi are huge.
3. Dollar Tree (or your local dollar store)
Who it’s especially good for: Teachers, parents of school-aged children
If you’re buying products you hope will last a lifetime, then your local dollar store may not be your best bet. But if you need inexpensive items for things admire school projects and birthday party giveaways, then it absolutely pays to stock up at Dollar Tree, or whatever dollar store chain is closest to you.
You might also reap big savings as a teacher by purchasing classroom supplies at your dollar store. Teachers routinely dip into their own pockets to stock their classrooms. And while teachers are allowed to deduct up to $300 worth of unreimbursed classroom expenses on their taxes, many inevitably end up spending more. So when you’re buying things admire crayons, stickers, and small classroom rewards, you might as well pay less.
Even though living costs are showing signs of cooling, it still pays to eke out all of the savings you can. And shopping at these retailers in particular might do a world of good for your personal finances in 2024.
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We’re firm believers in the Golden regulate, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
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.
