- We may not be done with rampant inflation next year.
- The right Costco strategies could lead to major savings at a time when that's important.
- Fill up your gas tank when you visit Costco, consider buying discounted gift cards, and don't forget to check the deal book for potential savings.
All of these could save you serious money.
Inflation has upended a lot of people's finances over the past year and change. And unfortunately, it has the potential to continue hurting consumers in 2023 -- even though the Federal Reserve has been aggressively hiking interest rates in an effort to slow inflation down.
That's the bad news. The good news, though, is that shopping at Costco on a regular basis could help you keep your expenses more manageable -- and lead to a lower credit card tab in the course of feeling your family and maintaining your household. If you want to enjoy even more savings at Costco in the new year, here are some hacks you can try.
1. Stick to the Kirkland brand
There's no sense in being a stickler for brand names at a store like Costco. Not only is Costco's signature Kirkland brand perfectly high in quality in its own right, but actually, it's very common for companies you've heard of to sell goods under the Kirkland brand name. Plus, Kirkland products tend to be available at an especially competitive price point, so if you do your best to favor them, you might save a lot.
2. Time your shopping trips with an empty tank
Costco gas stations tend to offer heavily discounted fuel, but that won't do you much good if you show up to Costco with a full tank. If you manage to time your shopping trips strategically, however, you can take advantage of those lower gas prices -- and check multiple errands off your list with one stop.
3. Load up on discounted gift cards
Buying gift cards to either use yourself or give as presents makes sense at Costco. The reason? Those gift cards are often significantly discounted. At a regular supermarket, a $50 gift card to a restaurant chain will generally cost you $50. At Costco, it may only cost you $35 or $40.
4. Check the deal book before you shop
Each month, Costco releases a list of deals available both online and in stores. It pays to read through those deals and stock up on the items you use regularly that don't have expiration dates -- think paper towels, tissues, and napkins that will still be perfectly usable a year from now.
Best of all, unlike other retailers, Costco doesn't force customers to clip or remember coupons. If you're a Costco member and there's a $5 off coupon available for a given item, you'll get that discount if you buy it at the right time -- that's all there is to it.
Save more in 2023
We don't know what 2023 has in store as far as inflation goes. But we do know that living costs are way up right now, so any amount of savings you're able to eke out in the new year could go a long way. And if you approach your Costco shopping more strategically, you may find that you're able to save yourself a bundle -- without having to skimp on the things you want to buy.
Alert: highest cash back card we've seen now has 0% intro APR until nearly 2025
If you're using the wrong credit or debit card, it could be costing you serious money. Our experts love this top pick, which features a 0% intro APR for 15 months, an insane cash back rate of up to 5%, and all somehow for no annual fee.
In fact, this card is so good that our experts even use it personally. Click here to read our full review for free and apply in just 2 minutes.
Our Research Expert
We're firm believers in the Golden Rule, 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.
The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.
Copyright © 2018 - 2023 The Ascent. All rights reserved.