Costco recently announced that they are increasing their membership fee by 10% as of November 1st. (Naturally, I am going to try to renew our Executive membership next week and see if they will hold it at the old rate.) This means that the Gold Star and Business memberships will go from $50 to $55 and the Executive membership will go from $100 to $110 per year.
Whenever a vendor announces a rate hike, I like to reevaluate whether it's worthwhile to keep using that vendor. For example, my husband dumped his Netflix membership this year, because Netflix competitors provide the same services at a better price. So, with Costco's annual fee hike, is it worthwhile to remain a Costco member? Should I switch over to Sam's Club? Should I completely drop out of warehouse bulk buying?
Read My Money Blog's (my favorite personal finance blog) analysis of the price hike and whether it's worth holding on to. Jonathan at My Money Blog is great at getting down to the financial nitty gritty.
I'm still kind of on the fence about whether or not we will stick to our Costco membership. My husband and I are going to crunch some numbers this week and decide.
Here's my post about whether it's worthwhile to belong to Costco at all.
Readers, please weigh in in the comments below. Are you going to keep your Costco membership?
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