Buying name brand was the way to go once upon a time. Walking into a grocery store, you could easily spot the brands you know and trust. Even though you were paying a premium for them, the purchase made you feel good because you were choosing quality over quantity.
But that isn’t necessarily the case anymore.
Now, there are numerous generic brands available and many of the products they produce are the same quality as those name brands, maybe even better. Too bad many of us aren’t taking advantage of these savings though. According to a 2014 study by Tilburg University, Americans are wasting approximately $44 billion dollars a year on name brands. Ouch! You’ve probably contributed to that number at some point too.
Instead of always going to the brand with the best commercials, here are five products you should always buy generic:
You probably want the best of the best when it comes to your health. Buying generic medication, whether over-the-counter or prescription, might not seem like the way to go. But rest assured, generic medication and name-brand medication is exactly the same. The industry is heavily regulated by the Food & Drug Administration and generic brands are as safe and effective to use as their name-brand counterparts.
There are many items you need to use around the house, from cleaning products to toiletries. And you can find the generic version of almost all of them. They can do the exact same job. Think of it this way: bleach is bleach and soap is soap. For basic items like these, spending more money on a better brand isn’t going to make a difference.
The same thing can be said of many items in your pantry. Whether you buy name brand or generic brand, salt and sugar is probably going to taste the same. Especially if you cook at home a lot and make your own meals, buying generic brands for your pantry items and cooking needs will save you a lot of money.
Bottled water now comes in a variety of brands with fancy packaging. You might be inclined to go with the brand that claims the best taste or the one that comes from a remote spring deep in the mountains. But don’t be fooled. Generic bottled water will taste just as good. It’s filtered, clean, and much cheaper.
Everyone uses toilet paper. It’s something you need to purchase over and over again. And we can all get very particular about what kind we use. While some generic brands aren’t the best, many are exactly the same as name brands… literally. Especially for consumer products, many generic items are made in the same factory as name brands. It’s just a different label slapped on it.
A brand name doesn’t always mean better. Most of the time, we choose to pay a little more because we recognize a name and feel a comfort in a buying a brand we trust. But next time, go for the brand you might not necessarily know. You might be pleasantly surprised.
For those interested, here are 5 consumable products that’s not worth the extra cost.
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