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You May Never Know These 10 Ways To Save Money At Costco If You Miss This

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You May Never Know These 10 Ways To Save Money At Costco If You Miss This

It’s no secret you can already save money at CostCo just by shopping there, but that isn’t the only way to get more bang for your buck out of the warehouse retailer. Savvy shoppers can find ways to keep even more cash in the bank by employing a few additional tips, tactics and strategies when they head out to do their shopping. If you’re ready to hang on to more dough, here’s 10 ways to save even more at CostCo.

Shop Seasonally

Like all retailers, CostCo has massive markdowns right after the holiday season where you can reap massive rewards. You should also know that CostCo does a big price cutting right after summer as well, so at the first nip of autumn, you should make a point of heading in to stock up for the next year. You’ll also want to keep your receipts just in case another retailer, or even CostCo itself, slashes their prices on some item you just bought so you can take advantage of their price matching guarantee.

Get Online

Going to a CostCo outlet can sometimes be a hassle. There are crowds to contend with, parking lots, and battling another shopper to the death over the last case of A-1. This isn’t always necessary. CostCo recognizes that it can be a headache to shop at their outlets which is why they offer additional bargains, deals, coupons, and offers to people who skip the trip and shop online. You’ll often find discounts on items that are only available through their website and online deal codes that will save you cash. Most of the time shipping is included and you can be guaranteed to get your item, while inventory at the actual store might be depleted.

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Shop Without a Membership

If you want to save money at CostCo without coughing up the yearly membership fee, you can get in the door by having a CostCo cash card that a member bought for you. That is all that is required for you to help yourself to the heaps of savings available inside. You don’t even need to make your entire purchase with the card. If you have a cash card worth only $25 and you rack up a couple of hundred bucks worth of merchandise, you can simply pay the difference with one of their accepted payment methods. Now that’s sneaky saving.

You can also buy a membership, stock up in a few massive trips and then cancel it by saying you were not satisfied. CostCo has a 100% money-back guarantee. If you claim you aren’t happy with your experience, you’ll get all your membership costs returned.

Crack the Codes

The way a true guru knows to save money at CostCo is to learn the secret price codes. Each sign has a few things to note so that you can determine what are the best buys and what you should pass by. Here’s what to know:

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  • If a price ends in 88 cents or an even dollar amount it is a manager’s markdown. They make these when they need to get rid of an item very quickly. It is specific to each store and tells you that they really want you to buy so these will have a much lower price than usual.
  • 97 cent steals: Ordinarily an item ends in 99 cents, so if you see “97” at the end it has been cut down from its usual price. These are usually the items that give you the most savings so it is worth taking a look.
  • Prices with odd cents amounts (examples: 49, 59, or 79 cents): These are items that CostCo bought cheaper from the manufacturer and they are passing the savings on to you. You won’t save as much as the other methods listed, but it still might be worth checking.

Welcome to Kirkland

Kirkland is CostCo’s store brand and by buying Kirkland products you can save a bundle. Here’s the best part: They are often made by name brand companies at a lesser price. Pureology makes the Kirkland shampoo. Bumble Bee makes the tuna. Huggies makes almost all of the diapers, and Humboldt Creamery makes the Kirkland Signature ice cream. The best is the booze. Grey Goose handles their vodka while Jim Beam makes their bourbon.

Kirkland is meant to be a high-quality brand so CostCo doesn’t skimp. Some of their stuff is not great but the majority of the time you’ll get materials that are equal-to or even better than the name brand at a fraction of the cost.

Do The Math

This is a smart shopping practice no matter where you go. Carry a flyer from local grocery stores with you whenever you go to CostCo and do a price analysis breakdown. Bulk items seem cheaper because you’re getting more of them, but sometimes the price per item isn’t actually a savings. Divide the price by the number of boxes, ounces, or units you are getting and then see how it compares to other places. You’ll be surprised at how much you might save by skipping the bulk purchase and getting the same thing from another source.

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Know Where you Aren’t Saving

There are three primary areas that are actually more expensive at CostCo than they are elsewhere: office supplies, paper goods (toilet paper, paper towels, etc.), and soda are all typically more costly than if you had gotten the same item from another store. This is why doing the math pays off. You’ll find out that by breaking the illusion that you always save money at CostCo by buying in bulk you’ll keep more in the bank.

Buy Bulk Meat

You’ll need a vacuum sealer and a decent freezer for this tactic, but it can save you hundreds on butcher costs. Get a big slab of beef, a rack of ribs, or one of their other massive meat deals and then cut it into portions for freezing. With a good vacuum sealer your meat won’t get freezer burned and you’ll be able to live out a zombie apocalypse in the lap of meaty luxury.

Do a Perimeter Sweep

The center aisles are where CostCo will try to trap you into making impulse buys. Thanks to the warehouse layout, it is easy not to get sucked in by these tricks. Do a loop around the store that doesn’t take you past the snacks, the electronics, or the DVD sections. Every store uses the same tricks to drive you into the middle where you’ll drop hundreds on stuff you don’t need. Get your eggs, your milk, your produce, and your frozen goods, then escape the CostCo clutches.

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Give it Back

CostCo has a glorious return policy that you should know about and use. You have two years to return almost anything – yes, that often includes frozen foods that spoiled or got freezer burned – and they have a price matching option that gives you 30 days to prove their item was cheaper somewhere else and they’ll refund you the difference. Just make sure you keep your receipt!

Featured photo credit: Jon Sullivan via public-domain-image.com

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Last Updated on July 20, 2021

Financial Freedom is Not a Fantasy: 9 Secrets to Get You There

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Financial Freedom is Not a Fantasy: 9 Secrets to Get You There

Have you ever considered your life now, and how it would be if you had more time to spend with your family and less worries about money?

Nowadays, financial stress is one of the most troublesome weights in life. If you’ve ever encountered financial stress, you know the difficulty of not having enough income to pay your obligations or bills.

Many people say that money is not the ultimate goal of life. While that’s true, money certainly plays a very significant role. The meaning of financial freedom changes with the different phases of our life, but ultimately, it is something that many people strive for.

In this article, we’ll explain how to capture that financial freedom you’ve been looking for. Read on to learn the secrets to financial freedom.

Break Free of Your Finances

Financial freedom is about having a constant flow of cash from your assets to cover all your regular needs.

When you are not worried about your income, or living paycheck to paycheck, you gain a great sense of freedom. It’s the freedom to be obtain and do what you truly need to make your way through everyday life.

Gaining financial freedom, though, is a process of growth, making small improvements and gaining emotional strength.

Though it seems hard to believe, it is really very simple to get financial freedom.

To do so, you simply need to make sure that your assets exceed your liabilities. In other words, you’ll need to find the sweet-spot where your residuals meet or surpass your expenses. This is something that you can achieve with the proper plan.

While not every person will accomplish financial freedom, the potential for anyone to do so is certainly there. Anyone can achieve this success, regardless of their income level.

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Outlined below are 9 secrets that will help you in your goals of achieving financial freedom.

1. Stop Unnecessary Spending

We often spend money inwardly, instead of objectively.

For example, you may spend when you’re anxious, depressed, restless, exhausted, from fear of missing out, or to please others. This is a very unhealthy way to handle your finances.

To stop this habitual spending, log down all your spending over the course of a month.

Just as some people keep a food diary, keep an expense diary. Remember not to just write down how much and what you spent the money on, also include the circumstances of why you spent the money. Was it an impulse buy at the checkout line or was it something you planned to purchase?

This increased self-awareness could enable you to avoid triggering situations in the future when you are considering an impulse buy.

2. Plan a Monthly Budget

This is a great opportunity to get serious.

Take a seat with your spouse or partner and make a monthly budget based on your income, not your expenses. You are never again going to spend more cash then you have on hand.

Overspending is the thing that led you to more financial obligations. Make sure you decide every month what is coming in and what will be going out and stick to that budget… no matter what.

3. Cut-up Credit Cards

Perhaps you are the type of person who always pays your credit card balance in full before the end of your billing cycle, and enjoys the reward points you gain. If this is the case, then you’re already way ahead of the game.

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If not, you may want to consider ridding your life of the burden that credit cards bring.

Many cards have strategies set up so that if you make a certain number of late payments, they will raise your interest rate much higher. This can really add up in the long run and you won’t be doing your financial situation any favors. If you’re prone to late payments or have a large balance due on your cards, cut them up!

Without proper self control on credit card spending and payments, you are basically throwing your money away. To ensure that you have better control over your spending, use only cash or debit for all future purchases (and don’t forget to pay at least your minimum payment on your cut-up cards each month!).

4. Increase Savings

There is no doubt that for a comfortable retirement you must accumulate satisfactory savings throughout your working life.

It’s good practice to save up to 15% of your income.

Start with your workplace 401(k), if you have one. If not, a Roth IRA (if you are eligible) or a traditional IRA (if you are not eligible for the Roth) are the next logical steps.

Increase in longevity means you might be able to look forward to 25 to 30 years in retirement, or possibly even significantly more. Investing now in good retirement plans will ensure that you have a guaranteed a stable monthly income when the time comes to stop working. [1]

5. Invest Wisely

Consider investing in funds.

Specifically, you will gain higher returns if you invest in different types of mutual funds such as Debt funds, Equity funds and Hybrid funds with a proper balance, although it absolutely relies on your personal preferences and sense of risk taking.

To get the most of these benefits, make sure you are investing in a variety of assets. Another resource of investing in mutual funds is SIP (Systematic Investment Plan) where you invest some money every month in funds. SIP works by averaging the per unit price of the stock.

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Mutual fund investors are aware of the benefits of an SIP (Systematic Investment Plan). For one, it is the most secure way to invest in equity mutual plans so that wealth is created over a long period of time. This plan also helps you to gain a better sense of financial discipline, which will come in handy in all your financial endeavors.

6. Invest in Gold

There isn’t really a better way to invest in gold than to have the physical gold itself in your possession.

You can purchase gold coins and bars from mints as well as from coin dealers and other private sellers.

Another way to invest in gold is through ETFs (Exchange Traded Funds).

These are is similar to mutual funds but they are exclusively investments of gold. ETFs are great because they offer more liquidity; the ETF owns the actual physical gold, stores it, and retains the value of the shares. These shares can then be bought and sold in the stock market, and one big benefit is that the transaction costs of gold ETFs are much lower than the that of physical gold.

With its consistently-increasing demand, investment in gold can be very wise long-term investment to make.

7. Stash Emergency Funds

Whether it’s a cash gift or a work bonus, always try to save any extra money that comes your way rather than making unneeded purchases.

If you get paid every other week, you’ll get an “extra” paycheck (three rather than the usual two) twice a year. Either save those paychecks towards your emergency funds or utilize the money to pay down other obligations, such as loans, credit cards or other debts.

Make it hard to get your cash.

Put your savings in an alternate bank, maybe an online bank that forces you to delay for several business days before transferred money hits your regular bank account.

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8. Find Fabulous Mentors

Find a mentor, such as a friend or family member, who has exceptional control over their finances and pay attention to everything they do.

If you do not have any friends or family that are enjoying financial freedom, then find a mentor online! There are numerous blogs and guru websites featuring the advice of many people who have reached financial freedom, and they exist primarily to let you in on how to achieve it for yourself.

There are also plentiful forums available that share tips and tricks on how to best achieve financial freedom. Read as much as you can and start changing your habits for the better.

9. Be Extra Patient

Patience is the key of financial success.

Being patient can be quite tough, especially when you’re struggling with your finances, but having faith is worth it. You’ll continuously be on the right track if you are taking the proper steps above.

So don’t be discouraged, even if you are only saving a few dollars a month; it all adds up. Within just a few years you’ll look back proudly at your accomplishments and be glad that you had the patience to get there.

Financial Freedom for All

Anyone can achieve financial freedom, regardless of their financial circumstance.

Use the tips provided above to get yourself on the track to financial freedom and toss your monetary concerns out the window. If you wish to achieve a life with financial freedom for yourself and your family then you must adopt a disciplined approach towards your finances.

Following the simple secrets above is a great start to making your money work for you, so you can work less and live more!

Featured photo credit: rawpixel via unsplash.com

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Reference

[1] Hartford Gold Group: IRA Retirement Accounts

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