Generically Speaking
Posted by mmetz on January 25th, 2010
Each one of us has sat at this fork in the road for awhile. For some it’s a quick decision, for others it takes some analyzing but in the end you have to make a decision…buy the name brand you know and love or buy generic. Buying generic can be a scary thing, especially if it’s for medication. This handy guide should make decisions a little easier on choosing which path to take, and might save you a little money on the way.
Medication: Purchasing generic medication can be a risky thing. When it comes to your health and medication, you don’t want to put something you are unfamiliar with in your body. So become familiar with these generic strangers. The Food and Drug Administration (FDA) requires all medications to print the drug information on the box. Take a second to compare a generic with a name brand and you will see that the 500mg of Acetaminophen in Tylenol is the same drug used in the generic amount. Get in the habit of checking labels before you buy and you could save yourself a lot of money.
Verdict: Go generic!
Electronics: This is also a tricky area because electronics can be a major purchase (televisions, computers, etc). For big items, go to the store and visually compare them. You aren’t going to be looking at specs and stats when you bring your new television home, you are going to be watching the TV. Take the time to inspect a floor model to see if it fits your needs. If a generic store brand fits the bill then go for it, if not then you should be able to decide if the extra money for the name brand is worth it.
Smaller items such as batteries can lack in performance with generic brands so you might want to invest in the name brand, or purchase some rechargeable batteries to save in the long run.
Verdict: Generic or Name brand: case by case basis.
Groceries: We spend hundreds a month on food, cleaning supplies, and toiletries. It’s time to embrace the generic store brands and start saving. Most store brand foods have the same nutritional value as its name brand counterpart but at a fraction of the price. The taste is close enough where you could switch the boxes and no one would know. Paper towels and other disposables all function basically the same so check the quantity on the boxes and if it’s cheaper for generic, you know what to do.
Verdict: Generic all the way!
So take the time to compare, and see how much you save just by going generic.
What are some of your favorite generic products?
Photo By: Dallas123 // CC By 2.0
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