Friday, March 31Welcome

Why Ramit Sethi Says Costco Is ‘A Great Business’

A man pushing a shopping cart through a warehouse store aisle.

Image Source: Getty Images

Many people love it, including one personal finance guru.

Key Point

  • Costco is known for its commitment to affordability.
  • Joining Costco could be one of the smartest financial decisions you’ll make this year, as memberships offer both value and superior customer service.

Costco is one of those stores where you don’t know what you’re missing until you start shopping. Also, you cannot start shopping there until you start paying for your membership.

Costco’s basic membership currently costs $60. The upgraded executive doubles the cost of his membership, but just as a credit card gives him 2% cash back, he gets 2% on all purchases at Costco. You can also get cashback for So if you shop at Costco often, an executive membership might make a lot of sense.

If you’re new to Costco, we recommend starting with a basic membership to see how it goes. If you have a Soko Club store near you, I highly recommend becoming a member.

My family regularly saves a lot of money by shopping at Costco. But don’t take my word for it. Finance guru Ramit Sethi is also a big fan of Costco.he went that far tweet about That’s great business. And this is why it is true.

everything is worth

The reason so many people love Costco boils down to the savings and customer service that the warehouse club giant is known for. We go above and beyond to ensure that you are happy with your purchase. If not, Costco has a very generous refund policy.

Costco strives to save money, so if it can’t, it won’t stock certain items on the shelves. Quoting a tweet from his Costco co-founder and former CEO Jim Sinegal, Sethi said, “Everything you sell must be able to show savings. If you can’t show savings, it will not run.”

This is a very solid approach to delivering value. Many retailers are comfortable stocking overpriced items and making a profit. But it’s clear that Costco doesn’t want to do it that way.

In fact, if you’re an avid Costco shopper and have ever noticed that an item you used to buy is out of stock, rising costs may be the reason. You may have removed these items to avoid scenarios where you don’t get your money’s worth.

smart financial move

When I first joined Costco, I was skeptical about the savings involved. You can be confident that you can keep your home.

If you’re hesitant about joining Costco, starting a membership might pay off, especially at a time when grocery prices are skyrocketing due to inflation. It’s more than paying for itself, and you’ll find that shopping at Costco helps you grow your income during these financially difficult times.

Saving money is fun for everyone, even if you’re not in financial trouble. Costco’s core business model is designed to enable much of that.

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