According to Andrea Woroch on Hallmark's "Home and Family" show on Dec. 27, you can save a lot of money if you buy generic items instead of brand names. In some cases, generic is even better. In most cases, the generic and the name brand are exactly the same.
The packaging of brand names products is the number one reason they are more expensive than generic brands. However, most generic products are just as good if not better than their name brand counterparts. Compare the ingredients by looking at the nutrition facts on the side of both boxes.
Woroch gives the following advice on which generic products to buy and which name brand items to buy.
Best generic products to buy at the grocery store
Buy generic cereal. A brand name box of cereal is about $5.50 box. Generic cereal costs about $2.99, and usually comes in a bigger package for less money. Compare prices and ingredients with the less expensive generic brands and stock up when these items are on sale.
Sugar, flour, salt, pepper, spices and other single-ingredients items are all the same. Government regulations require the same production and storage for generics as they do for name brands. It really is a waste of money to buy a brand name of these items. Besides, brand-name of these items are not usual on sale or have manufacturer’s coupons.
Never buy name brand cleaning supplies. Studies have shown that generic cleaning supplies are just as effective as name brands.
You might to stick with the brand name for paper products. Do not buy generic paper products such as paper towels and toilet tissues. You will surely see a difference in generic and brand names. Go ahead and spend a little more for paper products.
Best generic products to buy at the pharmacy
Most consumers believe the most recognizable brands of medications are the safest. However, the FDA requires that all generic medicines be as effective and safe as the name brands. Close to 50-percent of all generic medications are manufactured by the same companies as the brand name and put in different packages. There’s no reason to pay 30 percent more for your medicine when a cheaper brand is just as good. In fact, you can ask your pharmacy for a generic brand to save money on your prescriptions as well.
Buy generic gas rather than name brand
Save at the gas station by buying "off-brand" gas. The price difference can be about 20 cents a gallon. Some off brand stations often get their gas from the same gas trucks that deliver to the brand name stations.
If you have doubts about generic products, try them to see if they work for you. You might find that they work just as well if not better than the higher priced brands.