I only shop for one, but my Costco membership is worth it for 7 reasons — like saving hundreds on gas a year (2024)

FAQs

Is a Costco membership worth it just for gas? ›

I've been a Costco member for 25+ years and, for the past five, have been shopping for just myself. Costco has great food deals and I save by buying my electronics and tires there. I'm regularly saving 25 to 30 cents a gallon on gas by going to Costco.

For single people looking to save on home essentials, groceries and clothing, a Costco membership can provide substantial savings, according to Jeanel Alvarado, retail expert, founder and CEO of RetailBoss. “Depending on where the person lives, it can be much more affordable than local grocers,” she said.

If you typically spend more than $3,000 a year on Costco purchases, or if you anticipate spending more than $3,000, then you should keep or upgrade to an Executive membership. Why is $3,000 the magic number? It's simple. The cost to upgrade from a basic Costco membership to an Executive membership is $60.

There's much to be gained by getting a Costco membership when you're older. Unfortunately, though, Costco doesn't offer senior discounts. You'll need to prepare to pay $60 for a basic membership or $120 for an Executive membership. You may find, however, that the savings you enjoy can more than make up for those costs.

While Costco doesn't offer free or discounted memberships, we do provide an exclusive college student offer to join Costco as a new member and receive a Costco Shop Card!

You can often save money by purchasing bulk grocery items at Costco. It's probably unrealistic to do all of your grocery shopping there, since there are apt to be many items you don't need to buy in bulk. You may also find that your local supermarket has a better price than Costco when an item you need is on sale.

Here's how to snag the deal: Purchase your Costco membership through StackSocial, and make sure you provide a valid email address. Within two weeks, you'll receive your $20 Digital Costco Shop Card via email. Once you receive the digital shop card, you can use it to make Costco purchases online or in person.

To receive a Digital Costco Shop Card, you must provide a valid email address and set up auto-renewal of your Costco membership. Limit one membership per household. Qualified members will receive their $30 Digital Costco Shop Card by email within 2 weeks of redeeming their purchase.

So how much money can you save by buying bulk groceries from Costco? By my calculations, you'd save over $1,000 in a single year by shopping from a wholesale retailer. Below is a breakdown of how I reached that figure. (And if you get a Costco Executive membership, you could save even more.)

Plus, with Costco's wide aisles and ample parking, shopping becomes less of a chore and more of a leisurely outing. While Costco doesn't offer specific senior discounts, its already low prices on groceries and other necessities can be a boon for retirees on a budget.

What is better, Costco or Sam's Club? ›

Costco has more stores across the globe, is expanding rapidly, and generally offers cheaper prices than Sam's Club does, although the latter charges slightly less for membership, has a bigger presence in the U.S., and stocks more name brands.

A basic Costco membership costs $60, while an Executive membership costs $120. An Executive membership gives you 2% cash back on your Costco purchases.

To reach that total, they divided the cost of the membership by the 20 cents per gallon they estimate a driver will save by filling their tank at Costco. The resulting figure, in the case of the $60 Gold Star membership, is 300, or the number of gallons of gas you'd need to purchase to achieve $60 in savings.

A benefit of all Costco memberships is savings on gas, travel deals, medications (in some states) and certain business-related expenses (if you opt for the Business membership).

Costco gas is offered at a great price

Although the exact amount of savings you'll get varies based on your location and the specific club you're shopping at, you'll typically save around $0.20 per gallon at Costco according to most online reports.