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Money Talks News: 7 Things You Should Always Buy Generic

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7 Things You Should Always Buy Generic

You know that generic products are cheaper than name-brand ones, but are you clinging to the belief they're also inferior? Here are some where we challenge you to discern the difference.
By Stacy Johnson

Save just $5 a day, or $150 a month, for 30 years – earn 10 percent on it – and you’ll end up with a nest egg of $342,000. Would that make a difference in your life? (By the way, if you’re wondering how the heck you can make 10% on your savings, you can’t – at least without risk.)

The tricky part is saving that $5 without sacrificing your quality of life. And one of many ways of doing that is to pay for name brands only when name brands make a difference. Sound obvious? Take a quick stroll around any grocery store and you’ll see that it must not be at all obvious, because the shelves are stuffed with products that cost extra – sometimes a whole lot extra – in exchange for nothing more than a name.

Stacy Johnson recently took a camera into a local grocery store and found some amazing price differences between name brand items and their generic equivalents.

As he walked around hislocal Publix to shoot that video, he jotted down the prices of some of the stuff they were looking at. Check out this list – it’s amazing that people will pay this much extra for substantially identical products, presumably simply because some commercial told them to.

(iStock)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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