A Gold Star membership at Costco costs $65 a year, while an Executive membership costs $130. The Executive membership offers the benefit of 2% cash back on purchases. There are questions you can run through to estimate your spending plans and shopping needs for the new year.

So many things have changed since Costco opened its doors in 1983. For one thing, there was no pharmacy. And can you imagine bringing your checkbook?

Costco membership fees account for only 2% of total annual revenue. However, these fees are more important than they may appear.

Although Costco brings to mind large families and bulk buys, there are plenty of households of one and two out there who save money at Costco. Indeed, Costco can offer a ton of savings opportunities for roommates and couples alike.

Thinking about upgrading to a Costco Executive membership? Make sure you know about the possible drawbacks before you do.