LifestylePersonal Finance

Save Big By Buying Generic

Living on a budget does not have to be complicated. In fact, simply changing a few of your buying habits could save your hundreds if not thousands of dollars every year! One simple trick you can use that is guaranteed to save you money – buy generic.

It really is that simple. Generic brands are usually significantly cheaper than name-brand products. If you can get a name-brand product cheaper (with a coupon or without), do it. In most cases, you will not lose much in the way of quality, when you choose the cheaper option. Here are a few times you should skip the expensive stuff (and a few instances, it is okay to splurge)

Off brand snacks: Chips, crackers, cookies and even soda all taste pretty much the same. If you tend to eat a lot of snack foods, definitely go for the cheaper options and stock up on the branded options when they go on sale. Most of these items are all created in the same factories anyway.

Cleaning items: There is no reason to buy expensive branded bleach when generic will do the exact same job. This goes for most cleaning items, save heaps by going generic. If you have concerns about quality – compare the ingredients, you’ll generally find they are identical. Try cleaning with vinegar, its highly effect and extremely cheap.

Off brand coffee: Unless you are a coffee aficionado, it does not really make that big of a difference… just add more cream and sugar. At the very least, you should be making your coffee at home instead of purchasing it from a coffee shop – Instant savings!

Canned foods: Soups, vegetables and fruits in a can are, foods in a can. How much of a difference can there really be? Well there is a huge difference and it’s in the price…buy generic

Off brand gas: This is not an off-brand as much as it is the cheaper kind. Unless you drive a truck that requires diesel gas, go for the cheapest gas. Most cars will not get better gas mileage with the slightly higher octane levels and those few cents a gallon can add up quickly.

Off brand cereal: Seriously, stop paying $6 for a box of cereal. Buy the cheap version of Cheerios they taste the same. The same can be said about yogurt and milk too. They taste the same. If you are on a strict budget, organic is not your friend. If you must have organic milk, make this your splurge and cut back elsewhere.

Generic Medication: Generic medication can save you a ton of money – A ton. If your doctor gives the okay to make the switch to a generic brand, you can easily save up to half the cost of the name-brand medication. Generic brands are the exact same as the name brand. Did you read that? They are the exact same… so why are you paying more? Not all medications have a generic form, so talk to your doctor or pharmacist about your specific medication.

Get loads of other great saving tips in our personal finance section.

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