Companies are raising their membership fees to cope with rising costs, but are memberships worth your money? Costco recently announced plans to bump up its membership fee for the first time in seven years, adding $5 to its standard tier to make it $65 starting September 1 (don’t worry, your beloved hot dogs and samples are safe). It’s not just Costco — Netflix, Spotify, and some gyms have also recently announced price hikes. According to retail expert Bruce Winder, these increases are a response to serious inflation over the last couple of years, which has pushed up business expenses. But companies need to be cautious with these hikes to avoid ticking off customers. Look at PepsiCo — after raising prices multiple times, shoppers are now scaling back on buying things like Doritos and Lay’s, which used to be a go-to for budget-conscious folks. "It’s a fine line," Winder told Peak Money. He also noted that many companies are switching to the membership model to secure a steady income instead of relying on sporadic sales. This approach often targets younger folks who may not realize how much they're spending on subscriptions. To manage this, Winder suggests doing a full audit of your memberships. Ask yourself, “Do I really need this?” Winder advises keeping essentials like gym memberships, but think about cutting back on extras like museum passes.