4 Reasons You Keep Wasting Money at Costco
KEY POINTS
- Costco is known for its affordable products.
- If you're not careful, you could easily bust your budget in the course of your shopping.
- It may be a good idea to avoid buying new products or perishables in bulk, as well as to research prices ahead of time to ensure you're getting the lowest price on an item.
Costco should save you money -- not do the opposite.
If you're looking to load up on groceries and household essentials without racking up too large a credit card tab, then Costco is a great place to shop. But not everyone who shops at Costco ends up saving money. If you're not careful, you could end up wasting money -- especially if these factors apply to you.
1. You keep taking a chance on bulk items
It's one thing to buy your kids' favorite crackers or granola bars in bulk, but it's another thing to buy items in bulk you've yet to introduce to your household. Maybe you're walking through your local Costco and decide to sample a type of soup the store has on offer. You might love it and decide, "Hey, I think I'll buy four pounds of it at an ultra-low price."
It's a good idea in theory. But what if everyone else in your family hates that soup? Then you're stuck with a whole lot of soup that you'll either have to consume yourself or, more likely, throw away.
2. You keep buying too many perishables in bulk
The beauty of buying in bulk is getting to pay a small amount per ounce or unit for the item in question. But the savings really only work if you actually consume all of what you buy. You may end up wasting money at Costco continuously by purchasing perishable items that you just toss out before you have a chance to finish them.
Take salad or vegetables, for example. A giant bag of Costco salad or spinach might cost much less per ounce than a similar item at the regular supermarket. But if you end up throwing out half of those greens because they've started to wilt on you, you could end up wasting your money.
3. You keep falling victim to impulse buys
Costco tends to offer seasonal or rotating items that can be very tempting to scoop up. But when you're on a tight budget and those items aren't on your list, buying them can constitute a waste. As such, if you're a regular Costco shopper, you should train yourself to either stick to your list or otherwise limit yourself to no more than one unplanned buy per outing.
Another tip? Only bring enough cash to do your shopping and leave your credit cards at home so you effectively take away the option to go off-list.
4. You're not doing your research beforehand
It's easy to assume that Costco will always have the best prices available. But if you don't do your research, you could end up overpaying at Costco.
Before you head out to do your shopping, check out your local supermarket's circular to see what items it's offering at a discount. You may find that while Costco's six-pack of avocados for $10 would normally be a good price, right now, it's not, because your supermarket has avocados on sale for $1.25 apiece.
Many shoppers find that they save money at Costco. If you've been having the opposite experience, make sure you're choosing your purchases strategically, avoiding impulse buys, and comparison shopping before hitting the store.
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