Is Sam's Club Plus Worth the Cost?

While a Sam's Club membership isn't the largest item in our budgets -- a $50 annual membership cost breaks down to a little over $4 a month -- it's no small expense. And that goes double (actually, 2.2 times the cost) for the upgraded Plus membership, which runs $110 a year.

Since there may very well be better things you can use that money on (that $110 would make $6 just sitting in a good high-yield savings account doing nothing at all), it's worth it to figure out if your membership is really worth what you're paying for it.

Making up the $110 yearly cost

There are two things to consider about the cost of a Plus membership. First, you have to consider if having any kind of Sam's Club membership at all is worth it. Then, you need to figure out if a Plus membership is worth an extra $60 a year over the cost of a regular membership.

There are a few ways you can make up the cost of a Sam's Club membership depending on how you shop.

Save a little bit on everyday essentials throughout the year

Sam's Club is known for its great prices, and the warehouse club has regular sales on top of that. A Plus membership breaks down to $9.17 a month, so you'll break even if you save at least that much on your monthly purchases of household essentials.

That said, you don't need a Plus membership for this. A regular Club membership will get you access to the warehouse stores, so if you don't mind shopping in person, you can score the same discounts. A Club membership runs just $4.17 a month, so it's much easier to come out ahead on savings.

Buy one or two large items at a deep discount

You can get deals on all kinds of big-ticket items at Sam's Club, from furniture to appliances. If you can find one or two great deals, you could easily pay for either membership level with a single purchase.

Once again, though, I need to point out that you don't need the more expensive Plus membership for these deals. Both membership tiers have the same access to deals on large items (and small ones, and medium ones, etcetera, etcetera).

Maximize the 2% back in Sam's Cash (Plus only)

Here's where we start to differentiate between the two membership types -- and costs. Plus members can earn 2% back on their eligible Sam's Club purchases. This is earned in the form of Sam's Cash, which can be redeemed toward a future purchase, or even the cost of membership.

Here's how much Sam's Cash you could potentially earn over the course of a year:

So, if you spend at least $250 a month -- or $3,000 a year -- at Sam's Club, you could break even on the cost of a Plus membership over a Club membership just with Sam's Cash. And spending more than that would then get you into money-making territory.

You can see how much Sam's Cash you've been issued this membership year through your Membership dashboard online or in the Sam's Club mobile app.

Through increased rewards on your Sam's Club Mastercard

Sam's Club has a cobranded rewards credit card called the Sam's Club Mastercard. If you have a regular Club membership, the Sam's Club Mastercard only earns 1% back in Sam's Cash. But if you have a Plus membership, your card will earn 3% back on Sam's Club purchases.

That extra 2% back could be worth quite a bit over the course of a year (see the above table for a reminder of what 2% back can earn). Stack it with the 2% in Sam's Cash you get from being a Plus member, and you could easily wind up ahead on your membership cost without too much damage to your bank account.

Using free shipping and/or curbside pickup (Plus only)

The other main perk to having Plus (besides the Scan & Go, which cannot go without mention) is that you get free shipping and curbside pickup. While the value of time and convenience can be a bit nebulous and hard to put a number to, you really can't deny that there is value.

If you want some help valuing the feature, check your Membership dashboard in your Sam's Club account. There you can see how much you saved on free shipping for the membership year.

Now, this isn't 100% making up for the cost of a Plus membership unless you would have otherwise paid shipping on these items. But it can help you gauge how often you used the perk.

Crunching the numbers

Overall, some folks can definitely get their money's worth out of upgrading to a Sam's Club Plus membership. However, whether you're doing so can only be decided by crunching your own numbers.

How? Do a little comparison shopping now and then to make sure you're really saving on those everyday household goods you go through so often. (Just because something was a deal when you started buying it doesn't mean it still is.) And make sure you're checking for deals on large items. It's also worth looking at your dashboard to see how much you're making of your extra Plus perks.

If you add up all the numbers and it doesn't quite outweigh the cost, consider downgrading (or canceling) your membership.