As everyday costs continue to rise, there's more talk about warehouse clubs like Costco. Retailers like this offer significant discounts to members. Individuals and families who shop there often score incredible deals and keep more money in their checking accounts.
If you're a senior, you may wonder if there's value in joining Costco. Here are a few ways seniors could benefit from a Costco membership.
1. Spend less on prescription drugs
One of the best ways to use your Costco membership perks to save money is to get a discount on prescription drugs. If you're a senior who takes one or more medications, you might save money on prescription drug costs by becoming a Costco member.
Any shopper, even those without a membership, can get their prescriptions filled at a Costco club. But you must be a member to unlock the members-only discounts. If you're overpaying for medications elsewhere, you may get value from becoming a member.
2. Get a deal on groceries
You're not alone if you're feeling the strain of rising grocery prices. Many seniors have limited income, so extra dollars spent on rising food costs adds up.
The good news is that Costco has affordable prices on everyday essentials, including groceries, and shopping here can be cheaper than at other retailers. Becoming a Costco member could help you fill up your fridge and pantry without completely emptying your wallet.
3. Travel more in retirement without worrying about finances
Another Costco membership perk that could benefit seniors is travel discounts. If you're retired, you may have plans to explore the world. The last thing you want to worry about is money.
You can score discounts by booking through Costco Travel. As a member, you can also save money on amusem*nt park tickets and other events and attractions. You can travel confidently without stress by getting the best deals possible.
4. Get a discount on insurance
When you no longer work, it takes effort to stretch your money further. If you're upset about rising insurance rates, it may be time to explore how Costco could help you save on insurance premiums.
Costco partners with insurers to provide more affordable insurance offerings. As a member, you may be able to save money on homeowners insurance or auto insurance.
Join before membership fees increase
Shoppers must pay a yearly fee to be a Costco member. Unfortunately, Costco doesn't provide a membership discount to seniors. But you can save a few dollars by joining within the next few weeks.
The retailer recently announced it would increase the cost of its membership fees on Sept. 1, 2024. If you join on or after that date, you'll pay an additional $5 to $10 to be a member.
But through Aug. 31, 2024, you'll pay only $60 or $120 to become a member. Costco's Gold Star membership costs $60 annually, while its Executive membership, which has more perks (like 2% back on purchases), costs $120 annually. If you've been thinking about joining, you may want to consider doing it soon.
Don't miss out on the chance to earn rewards
Shopping the best deals at retailers like Costco could help you save more money. It's also a good idea to look for opportunities to earn rewards when you shop. Our No. 1 strategy to save money at Costco is to use a rewards credit card at checkout.
You can earn cash back rewards when you load up on essentials at Costco. Credit card rewards are valuable and can help you boost your overall savings. Take a look at our list of the best credit cards for Costco to find out more about the top features of each card.
FAQs
Unfortunately, Costco doesn't provide a membership discount to seniors.
Does Costco have a discount for seniors? ›
Unfortunately, Costco doesn't provide a membership discount to seniors.
Why do people need a Costco membership? ›
Costco offers members savings on bulk items and other consumer goods, such as apparel, travel, and electronics. There are two membership tiers from Costco: Gold Star and Executive. Costco has a business model that depends heavily on repeat shoppers buying and renewing memberships.
Do I really need a Costco membership? ›
Yes, you need a membership in order to shop at a Costco.
What is the benefit of Costco membership? ›
Costco members can take advantage of the wholesaler's online-only Costco Direct savings program. The more eligible items you buy, the more you will save, with savings ranging from $100 to $400 off.
How to get a Costco membership for free? ›
Costco doesn't offer free or discounted memberships, but rest assured that the cost of membership can be recovered quickly thanks to massive price savings once you start shopping.
How do I get a $30 Costco membership online? ›
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.
How to get a $20 Costco membership? ›
How Do I Take Advantage of the $20 Membership Deal? The $20 membership deal is available through StackSocial, a product discovery platform. The website is offering the Gold Star membership plus a $40 Digital Costco Shop Card for $60. The $40 Digital Costco Shop Card is sent via email within two weeks of purchase.
What are the cons of Costco? ›
Before you sign up for a Costco membership, consider these three serious downsides.
- It's more expensive than Sam's Club or BJ's. The first big downside to Costco membership is the high cost of joining. ...
- Online prices are higher than in-club prices. ...
- Perks of the upgraded membership aren't that great.
The Costco membership card is non-transferable, but there are several ways to share the experience with family and friends. Anyone with a card can bring up to two guests to the Warehouse during each visit.
However, you must be a paid member to enter the warehouse and purchase any other items. To pick up a membership application, please stop by the membership counter at any Costco warehouse or sign up online. We take great pride in the quality and savings we offer our members.
Which is better, Sam's Club or Costco? ›
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.
Can I use someone else's Costco card? ›
Costco membership is non-transferrable. This means only you can use your membership card. Each membership comes with two cards, so you can add one member of your household. Otherwise, you're allowed up to two guests while you shop -- but a member must pay at checkout.
Why do people pay for Costco membership? ›
Your membership provides access to our tremendous buying power, which results in the lowest possible prices on the items our members want the most. We are committed to providing quality and value on the products we sell with a risk-free 100% satisfaction guarantee on both your membership and merchandise.
How much do you need to spend at Costco to make membership worth it? ›
But if your annual spend regularly tops $3,250, you're better off with the Executive Membership. Every additional dollar you spend after $3,250 will bring your annual fee further and further below $65 and end up saving you money in the long run.
Is the $60 Costco membership worth it? ›
A Costco membership may be worth it if you live in a multiperson household and want to purchase items in bulk and potentially save on groceries and home goods.
How much is Costco membership 2024 for seniors? ›
Costco membership costs are set to rise soon
1, 2024. This change will impact shoppers in the United States and Canada. The Gold Star membership will increase by $5 from $60 to $65, and the Executive membership will increase by $10 from $120 to $130 annually.
What is the cost of a Costco Executive membership? ›
Costco membership is $65 a year. An Executive Membership is an additional $65 upgrade fee per year. Each includes a free Household Card. Please include sales tax in all applicable states.
What is the difference between Costco Gold and Executive Membership? ›
The real difference between the Costco Gold Star and Costco Executive is the 2% reward.
What is the #1 selling item at Costco? ›
Toilet paper
Yes, that's right! Costco's best-selling item is its Kirkland Signature Bath Tissue. It sells more than a billion rolls every year, bringing in over $400 million dollars in revenue. Costco's toilet paper is thicker and more absorbent than most other brands.
