Tuesday, February 17, 2009

A Frugal Thought: Lifetime Membership

As a computer engineering student, I am a member of several professional organizations.  Several of these organizations offer lifetime membership 'deals'.  Besides the hassle of not having to renew your membership every year, is it worth it?

For my example, I'll be discussing the Society of Women Engineers , or SWE.

Since my university is a five-year program I have five years of student membership at $20 a year.  As a special deal for recent graduates, the first year after graduation is $50 and subsequent years are $100 a year.  At this rate, it would take me a total of 25 years to incur the $2000 (actually $2050... 5x$20 + $50 + 19x$100)in membership fees that is the cost of a lifetime membership.

Presumably, the price of membership would go up at least with the cost of inflation, so I think its worth it.  Thoughts?

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