Walmart+, which launched in 2020, is a membership program that extends in-store and online benefits to budget-savvy shoppers. As a Walmart+ member, you can get same-day delivery from your store, free shipping with no order minimum, member prices on fuel at select stations, Burger King savings, video streaming with Paramount+ and more.
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Even with the long list of benefits, is it truly worth the monthly or annual fee? Some signs point to the fact that cutting Walmart+ might be healthier for your finances. Here are four reasons why canceling the service could help you save money in the long run.
You’re Not Maximizing the Benefits
Walmart+ offers a ton of perks, but if you’re not regularly taking advantage of these benefits, it’s not worth paying the $12.95 monthly subscription fee, or $98 annually.
For example, if you live right next to a Walmart store and shop in person more often than online, then you most likely won’t use the free delivery benefit as much as someone who exclusively grocery shops online. Another thing to keep in mind is that not all items are eligible for free shipping with a Walmart+ membership. Some oversized and freight items, as well as third-party items not shipped by Walmart, typically do not qualify.
If you have Walmart+, review how often you’ve used the service and its perks to see if it’s saving you money. If you only use it sparingly, you’re likely better off canceling.
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Fuel Savings May Not Be Significant
Walmart+ offers fuel discounts of up to 10 cents per gallon at Exxon & Mobil stations and select Walmart & Murphy stations. Though this sounds like a pretty good deal, the savings may not add up as much as you’d think. If you barely drive or already have access to low-priced gas stations nearby, the fuel discount most likely won’t offset the subscription cost.
Here’s an example: let’s say you save 10 cents per gallon with Walmart+ on a 12-gallon fill-up. That’s $1.20 saved. But if you’re filling your gas tank less than once a month, your annual savings may only be around $10, which is much less than the $98 annual Walmart+ subscription fee.
If you really want to save on gas, you might find better discounts through credit card rewards or loyalty apps.
Impulse Purchases Can Add Up
One of the hidden costs of Walmart+ is the temptation to shop more frequently. With free shipping and convenient delivery options, it’s easy to justify buying items you might not need. Over time, these impulse purchases can add up and cancel out any potential savings the membership offers.
Canceling Walmart+ forces you to be more intentional with your shopping. Without the convenience of free shipping, you’re more likely to plan purchases carefully and avoid unnecessary spending. This alone could help you save a good chunk of change over time.
It Allows You To Reallocate Your Budget
Instead of paying for a subscription you’re not fully using, canceling Walmart+ can free up $98 a year (or $12.95 a month) that you can put toward something more meaningful like growing your emergency fund, tackling debt or building your nest egg. Though $98 a year may not seem like a lot, it can snowball into thousands of dollars over time with the power of compound interest.
And though you may have to pay delivery fees here and there once you cancel Walmart+, chances are you’ll still come out ahead. Plus, canceling the subscription could make you more thoughtful about your purchases and, thus, spend less.
Final Take To GO: Does Walmart+ Make Financial Sense for You?
Even though subscriptions like Walmart+ are marketed as money-saving solutions, they’re only valuable if you use them to their full potential. If you’re not taking full advantage of the benefits or if the subscription is encouraging unnecessary spending, you may want to cut out Walmart+ this year.
That said, if you’re eligible for government assistance or you’re a college student, you can get 50% off the membership. In that case, Walmart+ could still be a solid deal worth checking out.
Caitlyn Moorhead contributed to the reporting for this article.
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This article originally appeared on GOBankingRates.com: 4 Reasons Cutting Walmart+ Can and Will Save You Money
