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If a Costco membership were free, more people would probably get one. But there is a cost involved.
A basic membership at Costco costs $65 a year, while an Executive membership costs $130. The Executive, however, gets you 2% back on most Costco purchases, much like a cash back credit card .
Shopping at Costco can save you a lot of money when you buy groceries and household supplies in bulk on a regular basis, and the savings on big-ticket items (think furniture and electronics) can be huge. But there are other benefits of a Costco membership besides low-cost in-store goods. Here are a few you should know about.
1. Affordable gas
Driving a car isn't exactly cheap. You need to maintain your vehicle, insure it, and fuel it. But Costco can help with the last one. As a member, you'll get access to the warehouse club's gas stations, which usually have lower gas prices than regular gas stations.
Costco gas can be up to $0.25 cheaper per gallon than that of nearby competitors, according to a GasBuddy analyst. If you fill up at Costco often, the savings on gas alone could pay for your annual membership.
2. Low-cost travel
No matter your destination, travel has the potential to be very expensive. The upside of joining Costco is that you'll gain access to its travel services. That could be helpful in a number of ways.
First, Costco has access to unique vacation packages that you won't find elsewhere and may be more affordable than what you can find on travel sites or through independent travel agents. On top of that, you'll get the support of a Costco travel specialist -- someone who can help you with everything from booking cruises to navigating issues if your travel plans have to be changed.
3. Extended warranties on electronics
When you buy electronics, you're making an investment. And you want reassurance that the items you're purchasing are going to last. Costco will commonly offer an extended warranty on electronics such as smartphones, laptops, and tablets. That gives you peace of mind when you're parting with a larger sum of money.
The option to purchase essential food and household items on the cheap is reason enough to join Costco. But you should also know that if you get yourself a membership, you'll be privy to perks like less expensive gas, affordable travel packages, extended warranties on costly purchases, and the option to do your bulk shopping just about anywhere.
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We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. Maurie Backman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy .
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