Did you know that the Costco membership price goes up every 5 years? I sure didn't. Well, I've only had the membership for about a year now but still, that is not cool. According to FOX Business, Costco routinely raises the price of its membership every 5 and a half years.

We learned that the last time that Costco raised the price on its memberships was back in 2017. When the membership price increased it went up by $10 on the higher package and only $5 for the lower-priced membership, according to FOX Business.

Don't worry you are not going to get hit with the price increase on the membership this year. Believe me, I was starting to get mad because I don't want to have to pay more to buy stuff at Costco. It was stated on FOX Business that analysts made it known that U.S and Canadian Costco members will not see the increase in membership prices until 2022.

I understand that Costco is trying to make a little more money off of the memberships but here is my question, if Costco had a successful year with an increase in members why does the price have to go up?  FOX Business made it known that Costco memberships went from 107.1 million to 108.3 million. That is a huge jump. The increase most likely came from families wanting to have everything in bulk while being quarantined.

If they want to raise the price they should only raise it on the customers that are just now becoming new members, not the existing members. That's just my opinion.

INSIDER TIPS: These Are the Best Things You Can Buy at Costco