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Monday, September 28, 2015

What is the definition of a club membership and what are the benefits?



1. the state of being a member, as of a society or club.

2. the status of a member.

3. the total number of members belonging to an organization, society, etc.

We will start with Costco since most people know or heard of them.

Types of Membership

One of the first things you have to decide with Costco is the which membership you want to sign up for. As you can see below, being a member of Costco is a bit more expensive than other clubs. Upfront cost is just one factor in deciding what to get. It’s more important to look at the overall value of what you’re getting.

Gold Star Member ship ($55/year)

Business Membership ($55/year)

Executive Gold Star Membership ($110/year)

Each one has its pros and cons. We definitely didn’t fit into the business membership, so we were left to choose either the basic Gold Star or the Executive Gold Star.

We decided to sign up for the Executive membership to take advantage of the cash back option. After the first year, we saved enough that it paid for itself several times over.

Gasoline Savings – Money Back in Our Wallet

Costco’s gasoline has been considerably cents cheaper per gallon then other gas stations on my side of town. I’ve noticed a difference of 10-15 cents, which is a nice bit of savings. Whenever I’m right by Costco, I try to fill up. Not only am I getting a discount on my gasonline, but I’m also earning 2% with our Executive Membership.

Shopping Deals

As many people are aware, you can get some great deals shopping at Costco. When looking at flat screen TVs, my husband was able to get one much cheaper than the next choice. If you’re looking for good warranties, Costco has some of the best. Unlike some retailers, they have a generous return policy.

Costco’s pharmacy offer some wonderful deals on prescriptions. You may also want to check if there is an optometrist at your local store. Take advantage of any deals they have.

Even though they typically have lower prices for great quality products and items, you should still price check.

Saving Money From Membership Deals

There are added benefits to Costco membership including discounts on certain services.

Car Insurance – We’ve managed to cut our insurance bill by switching to Amerprise through Costco. Our bill used to be almost $120/month and now it’s $80/month for more coverage.

Towing/ Roadside Assistance – Executive members have towing and assistance included for free with their insurance policy.

Source of the Costco write up.

There are thousands of membership types from retail stores, golf country clubs, private memberships, restaurants etc.

I love to have a membership to a cub because it usually means savings and especially when it's an exclusive club.

So, if you ever get a chance to have an exclusive club membership, do it. You might find that the benefits and savings are far greater than if you weren't a member.

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