As a frugal shopper, you likely weigh every purchase very carefully before you make a decision. You don’t just want to reduce your spending; you also want to stretch your dollars and get the most bang for your buck.
One way to get an incredible value on summer entertainment is to purchase a yearly membership to a place like a zoo, a pool or a museum. When you divide the price of a yearly pass by the number of times you’re allowed to go, the savings are amazing! But are they worth their high price tag? Here are four questions to ask yourself when deciding if a yearly membership is a good buy for you.
1. How Often Will You Go?
The first and most important question you should ask yourself when considering a membership is “How often will we go?” If you know for sure you plan to visit the zoo, pool, or museum several times over the course of the summer, then a pass is likely a great value. If you enjoy visiting, but probably won’t have a chance to visit often, it may be a waste of money.
2. What Would You Do Instead?
Next, consider the alternative to buying a yearly membership. You aren’t likely to sit at home all summer. If you don’t have a yearly membership, will you visit a new (and expensive) place every week? If so, a yearly membership might make sense to you, because it would save you the expense of doing other activities out of boredom.
3. Do You Have the Money to Purchase One Right Now?
While purchasing yearly memberships for everyone in your family can lead to great savings, they are often quite the investment up front. Do you have the money to pay for one now, or can you skimp and save so you do? If you seriously cannot find a way to come up with the funds, you may have to find a different activity to do this summer and keep saving until next year.
Related: Four Ways to Save on Gym Memberships
4. What Other Hidden Costs are Associated With This Purchase?
Whether you are visiting the zoo, the pool or the museum, the cost of your yearly membership likely isn’t the only expense you will have. How much will you also end up spending on gas, parking, snacks, sunscreen and all of the extras? Don’t forget to factor these costs into the equation when you are deciding if a yearly pass is right for you.
Yearly passes can be a great investment, but only if you use them frequently enough to get your money’s worth. Be honest with yourself. Would getting a yearly pass help you save money this year, or is it just another thing to spend more money on because it’s such a “great deal?” This is a question only you can answer.
Related: Skip the Gym Membership! 10 DVD Workouts to Do At Home
Do you ever buy yearly passes on entertainment? What activities and events do you buy them for?