Get Un-Branded and Skip The High-Priced Labels

Author: Hollis Colquhoun
Published: July 14, 2010 at 5:05 am

Food is often the third biggest budget expense after your house and car. It’s difficult to cut the monthly cost of your home or car when the loan and insurance payments are fixed. Luckily you can exert some control over other spending areas, especially with your food costs.

A recent article on Wallet Pop entitled “10 Products to Always Buy Generic” written by Aaron Crowe highlights a few products that you should always buy generic.

1. Cereal. Cereals are expensive. Generic cereal will look the same and be similar in taste but can cost 25-50% less. The packaging and marketing expenses are what drive up the price for name brands.

2. Basic Cooking Ingredients. Flour, sugar, spices, etc. are under the same government guidelines as brand name staples so it doesn’t make sense to pay more for a brand name.

3. Soda. Generic brands of soda can be much cheaper than the brand names. The difference in taste may be minimal or great so do a taste test before buying a couple of cases.

4. Salad Mix and Produce. The quality of a head of lettuce or an apple can be determined by your senses; buying a name brand won’t give you added value. The cheapest way to buy produce is to pick the fruits and vegetables that are in season and create menus that make good use of them. Some fruits and veggies can be cooked and frozen to be used later.

5. Baby Formula. According to Aaron Crowe’s article, baby formula whether it’s brand or generic has to be made according to government regulated procedures set by the Infant Formula Act. There may be some taste and texture differences but if the FDA approves both a generic and a name brand, both will be healthy for the baby but the generic may be significantly cheaper.

Another expense area that can become a huge money-sucking hole in your budget is the miscellaneous category. As we all know, things happen and unexpected expenses can pop up like car repairs, minor household maintenance and appliance needs, toiletries, medical expenses, clothing, dental treatments, and the list goes on and on. Below are just a few items where you can save if you buy generic.

Continued on the next page

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Article Author: Hollis Colquhoun

I have over 20 years of experience in the financial industry and three years ago became an Accredited Financial Counselor for a nonprofit credit counseling agency. From speaking to thousands of women across the country who were in financial trouble …

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