A Sam’s Club membership isn’t for everyone – and that’s okay!
- Some shoppers save money on groceries and household items by investing in a Sam’s Club membership.
- If you don’t use your membership benefits, frequently overspend, or find better deals at other stores, it may be time to get rid of your Sam’s Club membership.
For many households, a warehouse club membership can offer money-saving opportunities. Although these clubs require you to pay to join, many of their products are sold at more affordable prices. If you’re not getting much out of your Sam’s Club membership, you may be wondering if it’s time to wave goodbye to this annual expense.
The current price for a regular Sam’s Club membership, also known as the club membership, is $45 per year. This price will increase by $5 starting October 17th. At that time, new members will pay $50 annually for a club membership.
If you’re a Sam’s Club member who doesn’t come to your local club often enough, you may need to decide if this expense is worth keeping in your budget. While club memberships benefit many wallets, they don’t always work for everyone.
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Here are five signs you should cancel your Sam’s Club membership.
1. You hardly use your membership
If you don’t use your membership benefits, you’re wasting your money paying an annual fee. For many members, it’s worth going to Sam’s Club regularly to take advantage of the best deals and get value for money.
2. You no longer have a Sam’s Club nearby
If you have moved since becoming a member or plan to move in the future, it may not make sense to continue paying an annual membership fee if there is no Sam’s Club nearby.
If you’re hoping to get similar deals in your new area, you might want to see if another warehouse club, such as Costco, is in your area.
3. You will find better deals elsewhere
While Sam’s Club and other warehouse clubs have great deals, not all products are a bargain. You may get better deals on some items at other stores in your community.
Many members compare prices at other retailers to find the best prices and only get the money-saving purchases at Sam’s Club. If you can save money by checking off most of your grocery list elsewhere, you might want to ditch your Sam’s Club membership.
4. You often spend too much
If you have a spending problem, having a Sam’s Club membership can encourage you to buy more than you need. It can be tempting to try all the products you see. Overspending can cause stress and lead to serious financial problems like expensive credit card debt.
If you’re struggling to manage your spending, don’t be afraid to take a break from the warehouse clubs. Debt can take a long time to climb out of and can negatively affect your finances.
For some shoppers, warehouse clubs are stressful to navigate. They are busy, full of products, and items are moved around frequently.
If you dread the thought of going to Sam’s Club because of the time you’ll spend there or worry about being able to find all the items on your shopping list, it might be time to ditch your paid membership and start shopping for a another place.
If you’re looking for tips on how to save money every day, check out these personal finance resources.