5 Things To Buy at Costco After Getting Your Tax Refund
According to the IRS, the average 2024 tax refund is $3,207 as of Feb. 16, about 2% more than last year’s $3,140 average.
That’s a nice chunk of change that many households won’t see again until the IRS pays them back once more in 2025. Most personal finance experts would probably recommend saving or investing most of it — and who could argue with that advice?
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But ETFs and REITs aren’t the only way to invest a windfall. In fact, your Costco membership might be the ticket to getting the best use out of your tax refund. The IRS returned your hard-earned money. Here’s how to put it to work at Costco.
Tech and Electronics
One way to maximize your tax refund at Costco is to invest in technology that can make you more productive at work or school or make your home more valuable, comfortable or efficient.
“Costco’s electronics department often has excellent deals on high-quality products,” said shopping strategist Yaseen “Alex” Zaman, founder of CostcoPickz.com. “Using your tax refund to upgrade your tech can be a wise investment.”
Currently, Costo is offering $200 off MacBook Air computers, $350 off Arlo home security systems and $200 off Samsung Odyssey TVs.
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Furniture and Home Goods
An investment in tech isn’t the only way to use your tax refund for home improvement.
“Costco offers a wide range of stylish and durable furniture,” said Zaman. “This could also be an excellent opportunity to refresh your living space or upgrade your home appliances.”
Currently, you can save $150 on Samsung stick vacuums, up to $120 on Thomasville luxury shag rugs and up to $400 on furniture sets.
Outdoor Equipment and Fitness Gear
You should consider spending your refund on exercise gear or amenities for your porch, deck or yard in anticipation of summer.
“As we approach warmer months, investing in outdoor and fitness equipment can help you stay active and maximize your outdoor space,” said Zaman.
Currently, you can save $400 on a Centr 2 FTX functional trainer with a folding bench and one-year app subscription and $150 on a propane-fueled pyramid flame patio heater from FireSense.
Bulk Non-Perishable Items
Costco is best known for selling wholesale-sized packages on the retail level, and you can put your refund to good use by purchasing large quantities of discounted products with long shelf lives.
“Buying non-perishable items in bulk can lead to significant savings over time,” said Zaman. “Consider staples like pasta, canned goods or paper products.”
Even without specific deals or discounts, buying in quantity guarantees you’ll spend less per unit.
Discounted Gift Cards
Finally, you can save money by converting the cash from your tax refund to a different form of currency for less than what it allows you to spend.
“If you’ve got money to spend at Costco, gift cards are one of the best purchases you can make,” said Scott Lieberman, founder of the personal finance site Touchdown Money. “These items represent significant savings at your favorite retailers, and if you know you’ll use them, it’s like getting yourself a 20% off coupon.”
Costo currently offers discounted gift cards from companies as varied as Southwest, Domino’s, NutriSystem, Cinemark, Subway, TopGolf, Instacart, Chuck E. Cheese and many more.
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This article originally appeared on GOBankingRates.com: 5 Things To Buy at Costco After Getting Your Tax Refund
