How To Do Your Financial Homework Before Buying Food At Costco

It's not just internet hype — Costco can, in fact, save you money. But to truly take advantage of Costco's deals you have to do your homework because, without proper research, you risk not getting a bang for your buck at the retailer.

While buying some products (like bread, milk, and eggs) at Costco can cost you less than getting them at other retailers like Walmart, Kiplinger notes that not every item on Costco's shelf is a money-saving steal. For example, consumers may be better off shopping for soda, among other products, on-sale at regular grocery stores. And even Joanie Demer, co-creator of The Krazy Coupon Lady, told CNBC that Costco members should have another regular shopping spot outside of the bulk retailer to ensure they're not overbuying on things "that aren't good deals." So then, what's the homework equation that's going to help you save money at Costco?

Have you heard of price checking? It's when shoppers research the cost of the same products across different stores. The idea is to find which retailer is offering the best deal on an item, a principle that Squawkfox reports carries over into shopping at Costco.

After comparing the per unit prices of items at the bulk retailer against those in a standard grocery store, CNET determined that shopping at Costco could save you as much as 33% on your grocery bill. However, Squawkfox also found that certain products can cost more at the big box brand than at a local grocer. For example, while frozen vegetables at Costco cost several cents less than those at the local store, some of the bulk brand's fresh fruits could cost up to a dollar more than the regular market.

If you also want to be able to make smart decisions about what Costco products you're buying using this method, you should know that while many shoppers utilize apps like Price Grabber and Price.com to check the prices of the same products at different stores online, that won't work for Costco. The brand notes on its website that it doesn't list the prices of the items in its individual warehouses online. That's why Squawkfox recommends taking photos or writing down both your local grocery store and Costco's per unit food costs when you visit them to gauge where the best-priced goods are. The Kitchn points out that you can also use your phone to look up the price of an item at another retailer while shopping at Costco.

Here are some more research-based tips that will help you make good use of your Costco membership. According to ToughNickel, you need to memorize Costco's unique price code. If a product's price ends in $.99, it's not on sale. However, if it has $.97, $.88, or $.00 on its price tag you're getting a deal. ToughNickel also suggests that while you might want to skip out on impulse buying the products being given out as free samples, you should seek out limited-time items at the end of their seasons (like holiday treats and patio furniture after summer) to score good deals.

To that end, Better Homes & Gardens notes that you shouldn't be afraid to ask an employee for help locating seasonal items. As the outlet reports, knowing exactly where a seasonal item is in Costco, which is constantly changing where its products are placed, will help you stay focused and avoid impulse buys. And finally, be sure to turn to others for guidance on Costco's best deals. According to Better Homes & Gardens, several accounts on Instagram are dedicated to showcasing Costco's latest sales and promos to their followers.