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Buying in bulk has its perks, and so does a Costco membership. But that doesn’t mean the cost is always worth it. In fact, there are times when it may actually be hurting your budget to shop at Costco with a membership.

Here are three reasons you may want to cancel your membership this month.

1. You want to switch to online-only shopping

Shopping in a warehouse can be exhausting, and on top of that, it comes with the health risks of being in a public space — that can be a deal breaker if you’re immunosuppressed, so online shopping may be preferable. Or, if you’ve moved away from a warehouse, shopping online may be your only option. But shopping at costco.com as a member may not actually give you the savings you expect.

While non-members do pay a 5% surcharge for the same goods (excluding pharmacy orders), you have to factor in the membership itself. And the Costco Executive membership costs $130 a year, while the Gold Star membership costs $65 per year.

Another thing to note: Shopping online at Costco is also almost always more expensive than shopping in a warehouse store. Item prices will typically be inflated by a couple to several dollars on costco.com.

But here’s the thing: If you have a Gold Star membership and spend $1,200 a year online, you’d be spending $5 more per year than if you had shopped without a membership and factored in the 5% non-member surcharge. And that goes up to an extra $46 per year spent at Costco if you have the Executive membership, even if you account for the 2% annual reward.

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So if you won’t be spending enough online to earn sufficient savings as a member, compared to shopping online without a membership, now’s the time to cancel your membership.

2. You want to explore other membership retailers

Costco can grant access to significant savings on products and services via its memberships, but it’s not the only retailer to use this model. Others, such as BJ’s Wholesale Club and Sam’s Club, can also give you access to discounted products as well as opportunities to get cash back.

So if your Costco membership is getting ready to renew soon, instead of letting it auto-renew, you may want to consider checking one of those retailers out to see if you can save more on the products that you tend to buy regularly.

You don’t have much to lose here as the membership costs for the aforementioned retailers are both cheaper than a Costco membership, and you can always cancel to switch back.

3. You’re prone to a spend-to-earn mentality

The phrase “you’ve got to spend money to make money” may be well-known, but that doesn’t mean it’s always going to work out. And for a bulk retailer like Costco, that can lead to overbuying and duplicate products.

So even when you’re willing to spend more so that you can technically save per ounce or item, that isn’t always worth it. If you’ve found that your cabinets are stocked with products you don’t need, or they’re going bad before you have the chance to use them, it may be worth canceling your membership.

You may be able to pay less overall by going with a retailer that may charge more per item if you aren’t overbuying and shelling out for that annual membership fee.

To cancel your Costco membership, you’ll have to either go to a Costco in person and talk to a team member (to get an immediate refund), or call the Member Services Center at 1-800-774-2678. It can feel like a big step, especially if you used to be an avid Costco shopper. But if you fall into one of these three categories, it’s a move your bank account will likely thank you for making.

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