7 Ways Retirees Can Save Money at Costco
Costco offers great discounts on a variety of products and services – and taking advantage can be especially helpful for retirees who need to make their money last.
Learn how financially savvy seniors can free up space in their budgets with a Costco membership.
How to save at Costco
Here are seven ways to lower your grocery bill at the big box store.
1. Take advantage of the membership discount
Costco has a premium membership that costs $65 a year more than the basic membership, but depending on how much you shop, it can be worth it.
Membership comes with an annual reward of 2% on most purchases in the warehouse, online and company travel offers. That means if you spend $3,250 a year at Costco, you’ll break even with an advanced membership.
2. Cost of research drugs
Costco negotiates directly with drug and medical device manufacturers and says it passes the savings directly to customers. The company says customers get “discounts on hundreds of popular drugs – even generic drugs” and special member prices on certain drugs.
When you shop at Costco, you may be able to save on your essential medications (and pet medications, too).
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3. Book travel deals
Costco isn’t just for everyday groceries. You can also book vacations through Costco Travel to save money. Bundles can be cheaper at Costco than at third-party sites, and you can find a variety of options.
Whether you want to take a cruise, rent a car, or book a hotel and flight, using Costco’s Travel portal can help you save big.
4. Get your gas at Costco
Filling up your car’s tank at the gas pump can take a big chunk out of your budget. But Costco tends to offer lower gas prices than the gas station average. Pair your shopping trip with a trip to a Costco gas station to save.
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5. Buy affordable hearing aids and eyeglasses
Specialty stores often have high-end brands of hearing aids and eyeglasses. However, if you buy these same items at Costco, you may save a significant amount of money.
6. Check the offer of home services
Costco isn’t just a place to get groceries and gas. You can also use its home services for flooring and carpeting, window and door replacement, bathroom remodeling, heating and air conditioning and much more.
Although you’ll want to compare costs with other suppliers, you may be able to score a deal with Costco’s offerings. Some purchases come with a Costco store card that earns a percentage of your purchase, which can be used toward membership or sales.
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7. Buy in bulk
Costco is known for its bulk, making it a prime place to save by buying in bulk. You can collect household essentials such as toilet paper and cleaning supplies, as well as non-perishable food.
If you don’t need large amounts of your purchases, consider splitting your items with a friend or neighbor so you can both save.
