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5 Great Ways to Stay Frugal at Costco

By WTOP Staff

Many people seem to have a love/hate relationship with warehouse stores like Costco. Either they love the ability to buy things in bulk, or it’s seen as the height of waste and consumerism. Regardless of the feeling, it can be difficult to shop at Costco and still be frugal. With each item easily costing $10 and up, it’s easy for your total to quickly add up.

Costco obviously does a good job at marketing since they’re such a successful company. If you’re among those who like to shop at Costco but are looking for tips on how to make your budget stretch further, try some of these tips:

Watch the Price Tags

The first tip to watch out for when shopping at Costco is to keep an eye on the price tags. Known as the “Costco code,” deciphering those price tags can be a great way to determine how good of a deal the buy is.

While most items end in $.99 increments, it is those that end in $.97 that are considered better deals as they have been marked down from their original prices. Those aren’t the only markdowns, though. Costco also commonly gets special deals from specific manufacturers. Those items are noted by odd increments like $.79 or $.49. Finally, keep an eye out for price tags with an asterisk listed next to the price. Those are items that will not be reordered and subsequently are not going to be marked down any further, so you should grab them while you can if you want them.

Ask for Coupons

It might seem like warehouse clubs wouldn’t want to give out coupons, but Costco regularly mails them out once every four to six weeks. These offer even better deals on selected items and a coupon is not even needed in order to get the deal on some occasions.

If you missed yours in the mail, just visit the membership counter for a complimentary book. They also provide a smart phone app that works, as well. Finally, Costco offers many of the same deals on their website, so check that out if you like online shopping.

Know what to Skip

It can be hard to know what to bypass when shopping at Costco, because everything seems like such a great deal. The simple fact is that everything at Costco, or any warehouse club, is not a deal. The main items to steer clear from are things like paper products for around the house as well as office supplies. Those can often be found for less at grocery stores or specialty stores when they’re on sale.

The other thing to consider skipping is the name brand items. Many warehouse clubs, including Costco, have their own generic brand on a good number of items. Many of those items are of comparable quality and often quite a bit cheaper. Consider giving a few of those a try to save money. If they’re not what was expected or wanted, Costco has a great return policy to get your money back.

Stretch Your Food

The big problem with shopping at Costco can be waste. If an item is not finished then it gets thrown away, which costs money. There are ways to get around this if getting a deal is important. On many perishable items, such as ground beef, they can easily be split up and frozen in smaller amounts. Not only will this prolong the life span of the item, but it allows for them to be used in smaller portions, too.

The other option to consider is going in with a friend to split a given item. It might be difficult for one family to go through an industrial size item, but split between two it can easily be done and both still get the deal.

Upgrade Your Membership

It might seem contradictory to being frugal to upgrade a membership, but it can be a great way to save more for some shoppers. A general Costco membership costs $55 per year, but can be upgraded to an Executive Membership for an additional $55 per year.

The benefit of the Executive Membership is two-fold. The main benefit is it pays out 2 percent cash back on spending per year, up to $750. If the extra $55 is not earned back, then Costco refunds the $55. Plus, Costco offers additional benefits for Executive members on everything from discounted travel to health insurance for small business owners.

It can be a challenge to shop at Costco and stay on a budget. With a plan, though, it is possible to score the deals and still be frugal.

More from U.S. News

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5 Great Ways to Stay Frugal at Costco originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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