6 Ways Shopping at Costco Helps Retirees Stick to Their Budgets
Written by
Jennifer Taylor
Edited by
Chris Cluff
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If you’re retired and think you won’t benefit from a Costco membership, think again. You may no longer need to buy many of the bulk goods offered at the warehouse store, but there’s still plenty of savings opportunities.
This might involve reframing your mind from the types of purchases you made when your kids were young, but it can pay off. From healthcare needs to travel, here’s a look at seven ways you can stick to your fixed-income budget by shopping at Costco.
Pharmacy
Medicare might help cover the cost of your prescription drugs, but that doesn’t mean you don’t have a co-pay. As of May 2024, the average out-of-pocket cost per prescription was $15.79, according to GoodRx.
No matter what you’re paying in prescription co-pays, it can add up fast — especially on a fixed income. However, getting your prescriptions filled at Costco can help.
By having your prescriptions sent to the Costco pharmacy, you can save up to 80% on popular medications. This includes any prescriptions your pet might need.
Additionally, you can save money on vaccines and booster shots. This can allow you to get the healthcare you need, without paying more than necessary.
Discover More: 4 Best Frozen Foods To Buy in Bulk at Costco on a $50 Budget
Optical
You might not realize it, but Costco offers optical services. In fact, you can get Kirkland Signature High Definition 1.60 High-Index Lenses for no additional cost — but that’s just one benefit.
If you already know which frames you want, you can shop online and get optical frames starting at $59.99. You can also score members-only discounts on a variety of sunglass styles.
These discounts can allow you to save big, as most Medicare plans do not include vision coverage. However, if you do have alternate coverage, Costco does accept most insurance plans for in-store purchases and exams.
Tires
If you’re still driving, car tires are a necessity, but they’re not cheap. The average cost is $194 per tire, according to Consumer Reports.
Costco has you covered by offering free installation on all tires purchased from a Costco Tire Center. You’ll also get a variety of other perks, including rotation, inflation checks, nitrogen tire inflation, balancing and flat repairs.
Additionally, Costco offers periodic extra savings on select tires. This can allow you to save even more, if you have the luxury of choosing when you get new tires — i.e., you don’t suddenly discover yours need replaced immediately.
Household Items
Now that your kids are out of the house, it might seem excessive to purchase bulk household goods like paper towels and toilet paper. However, you’ll still be able to use these items, even if it takes a little longer.
A 30-pack of Kirkland Signature Bath Tissue costs $23.49 — i.e., $1.65 per 100 square foot. In comparison, a 32-pack of Angel Soft Mega Rolls are $23.99 at Target, which works out to $2.22 per 100 square foot.
Additionally, a 12-pack of Kirkland Signature Paper Towels is $22.99, which breaks down to $0.01 per sheet. Notably pricier, a 12-pack of Bounty Select-a-Size Double Rolls are $29.40 at Walmart — i.e., nearly $0.03 per sheet.
Non-Perishable Food
If you have a small household, you might think it doesn’t make sense to buy food at Costco. However, this actually isn’t the case for many non-perishable items that take a long time to expire.
For example, you can get two 20.35-ounce boxes of Cheerios for $8.49 — i.e., $0.21 per ounce. On the other hand, one 18-ounce box of Cheerios is $4.44 at Walmart, which breaks down to nearly $0.25 per ounce.
Another way to save, a 43.5-ounce container of Folgers Classic Roast Ground Coffee is $14.99 at Costco, which comes to $0.34 per ounce. If you go to Target, you can get this same item in a 33.7-ounce container for $13.29, but you’ll be paying $0.39 per ounce.
Travel
You might not realize it, but Costco members can get discounts on hotels, cruises, rental cars and even entire travel packages. If your travel plans are flexible, you can even take advantage of limited-time vacation package discounts.
For example, Costco is currently offering a limited-time package deal to the Wailea Beach Resort in Maui, Hawaii, that offers a minimum of $765 included extras. Another tropical getaway, you can currently get $250 in included extras by booking a package at the Aruba Marriott Resort & Stellaris Casino through Costco.
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