5 Signs You Should Cancel Your Sam's Club Membership

A Sam's Club Membership isn't for everyone -- and that's okay!

For many households, a warehouse club membership can offer money-saving opportunities. While these clubs require you to pay to become a member, many of their products are sold at more affordable prices. If you're not getting much use out of your Sam's club membership, you may wonder if it's time to wave goodbye to this yearly expense. 

The current price for a regular Sam's Club membership, also known as the Club membership, is $45 per year. That price will increase by $5 beginning on Oct. 17. At that time, new members will pay $50 yearly for a Club membership.

If you're a Sam's Club member who doesn't get to your local club often enough, you may need to decide if this expense is worth keeping in your budget. While club memberships benefit the wallets of many, they don't always work out for everyone. 

Here are five signs you should cancel your Sam's Club membership. 

1. You hardly use your membership 

If you're not using your membership perks, you're wasting your money paying a yearly fee. For many members, it's worthwhile to go to Sam's Club regularly to take advantage of the best deals and get their money's worth. 

2. You no longer have a Sam's Club nearby

If you've moved since becoming a member or are planning to move in the future, it may not make sense to continue to pay a yearly membership fee if there is no Sam's Club nearby. 

If you're hoping to get similar deals in your new area, you may want to see if another warehouse club, such as Costco, is in your area. 

3. You're finding better deals elsewhere

While Sam's Club and other warehouse clubs have fantastic deals, not every product is a good buy. You can score better deals for some items at other stores in your community. 

Many members compare prices at other retailers to find the best prices and only get the money-saving purchases at Sam's Club. If you can save money by checking off most of your shopping list elsewhere, you may want to get rid of your Sam's Club membership. 

4. You frequently overspend

If you have a spending problem, having a Sam's Club membership may encourage you to buy more than you need. It can be tempting to try all of the products you see. Overspending can cause stress and lead to serious financial issues like expensive credit card debt. 

If you're struggling to manage your spending, don't be afraid to take a break from warehouse clubs. Debt can take a long time to crawl out of and can negatively impact your finances. 

5. You get stressed out when shopping there 

For some shoppers, warehouse clubs are stressful to navigate. They're busy, packed with products, and items are frequently moved around. 

If you're dreading the thought of going to Sam's Club because of the amount of time you will spend there or are anxious about being able to find all of the items on your shopping list, it may be time to get rid of your paid membership and start shopping elsewhere. 

If you're looking for tips on how to save money every day, check out these personal finance resources.