Sam's Club Membership Fees to Increase Oct. 17

A yearly Sam's Club membership will soon cost $5 or $10 more.

For nearly a decade, the membership fees for Sam's Club have remained the same. But that's soon to change. On Aug. 31, letters were sent out to current members informing them of upcoming membership fee increases.

Similarly to Costco, Sam's Club is a warehouse club that sells food, household essentials, toiletries, cleaning supplies, clothing, and much more.

For many households, warehouse clubs provide a way to save money on groceries and other everyday expenses. Since most items are sold in bulk, shoppers can pay discounted prices while stocking up on the essentials they need.

But this kind of store isn't open to the public. You must pay a yearly membership fee to shop at Sam's Club or any other warehouse club.

Soon, it will cost more to do so. The Sam's Club membership fee will increase starting next month. While the price increase isn't significant, it could impact your bank account.

Membership prices will increase $5 to $10

Sam's Club members have continued paying the same annual membership fees for years. But beginning in mid-October, members will start paying more.

CEO Kath McLay recently announced upcoming membership price changes in an email to current Sam's Club members.

Here is what changes you can expect:

• The Club membership price will increase by $5 from $45 to $50.
• The Plus membership price will increase by $10 from $100 to $110.

These price changes will begin on Oct. 17. At that time, brand-new members will start paying the new prices when they sign up.

As a thank you, existing Sam's Club members will receive Sam's Cash when they renew their memberships at the new higher price point.

Club members will get $5, while Plus members will get $10 shortly after renewing their memberships.

Is the price increase worth it?

Only you can decide if it's worthwhile to pay a higher yearly fee to shop at Sam's Club. You should consider how often you shop at Sam's Club and whether you've received a lot of value from your membership.

The good news is if you're a current member, you'll get the price increase back in the form of Sam's Cash when it's time to renew -- so you won't feel the price change right away.

Should you join a warehouse club? For those considering joining Sam's Club, now may be the best time to do it while the more affordable membership price is available.

How to score a free Sam's Club membership

Sam's Club frequently runs promotions to attract new members.

If you're not already a member, you could score a free Sam's Club membership for $0, thanks to their current money-saving promotion.

When becoming a new Club member and paying the $45 membership fee, you'll be eligible to get $45 off your next in-club purchase of $45 or more. This offer is valid through Oct. 16.

While you'll have to pay the membership fee upfront, you'll get that money back after your first shopping trip. This offer is an excellent deal and gives you the perfect opportunity to try Sam's Club.

If you want to improve your financial situation, you're not alone. Review our personal finance resources for some helpful guidance.