The cost of gas is likely driving you crazy. According to one recent report, the average gas price is now $4.60 per gallon. You could save on gas by splurging on an electric vehicle or riding your bike to work every day, but those aren’t easy options. A much more accessible idea to cut costs at the pump is to join a warehouse club, which offers cheaper gas to members. Here’s what you should know before doing that.
The first thing to consider is the price of membership. As US News reports, the lowest annual membership fee for Costco is $66, compared to $55 for BJ’s Wholesale Club and $45 for Sam’s Club.
You should consider your driving habits before joining a warehouse club. If you work from home and only fill up your gas tank every so often, you might not end up saving much by being a member. If you drive often, the savings provided (gas at warehouse clubs is usually about 20 percent cheaper than other stations) on fuel could likely cover the cost of your membership.
One of the benefits of a warehouse club is buying in bulk. If you’ve found yourself stocking up on non-perishable foods, you could save money by joining a club. Then you not only get the cheaper gas, you get the cheaper groceries too.
Before signing up for a warehouse club, do the math and see if it makes sense for you. Gas prices are high right now, but that won’t always be the case (we hope). If a membership fits into your financial life in the long term, give it a go.