CONSIDER GENERIC BRANDS | 365 DAYS OF MONEY TIPS | DAY 19

Words of Wisdom

WHEN MEN ARRIVE AT THE POINT OF MAKING MONEY A GOD, THEY BECOME MORE CONCERNED WITH WHAT THEY CAN GET OUT OF SOCIETY THAN WITH WHAT THEY CAN GIVE TO SOCIETY IN TERMS OF SERVICE.
- MARTIN LUTHER KING JR.

WHY IT IS IMPORTANT: Considering generic brands allows you to explore quality products over notoriety items. There are in fact some generic brands that outperform the name brand products. Considering generic brands affords you an opportunity to determine if the costs outweigh notoriety. Big brand names tend to mark up their products because of their notoriety.

KEY POINT(S): Considering generic brands cuts costs period!  

MY EXPERIENCE: For quite some time, I used to frown upon most things that didn’t have popularity simply because when I was growing up, I didn’t have a choice. My mom has always been one to bypass notoriety for other quality options. Of course, as a kid, I didn’t understand this, and to be honest, not until I was a mom to my daughter and a wife did, I truly understand what it meant to try to stretch a dollar. So, faced with dollars that had to stretch for family, I found that there were some things that I absolutely will not bend on, and others where generic brands not only save money but they in some cases perform or taste better than the popular brand. Most recently, I bought the off-brand of a cleaning supply that I love and I was pleasantly surprised.

QUESTIONS FOR YOU: What are your favorite generic brand products? What products you can absolutely not consider generic options for?

NEXT STEPS: 

1. Look through your pantry and cabinets.
2. Determine what products can be swapped for a generic version and save
3. Consider a Financial Coach at Eduential™.

SUGGESTED ONLINE REFERENCES: 

• 20 Products You Should Always Buy Generic by ASHLEY MOOR
• How Much Can Buying Generic Brands Save You at the Grocery Store? by DAVE RAMSEY