Why would I pay $4.69 for a 42-ounce container of Quaker brand rolled oats when I can have the grocery store’s generic brand for $2.60? Why would anyone? When there is no appreciable difference between the actual products, it is financial blindness not to opt for buying generic brands and banking the cost difference. So what in the world keeps Quaker brand rolled oats on grocery shelves?
The money I save by buying generic brands really adds up. Rolled oats: $2.09 saved over Quaker’s $4.69 price for a 42-ounce container. Strawberry jam: $1.57 saved over Smucker’s $3.99 price for a 32-ounce jar. Sliced swiss cheese: $1.19 saved over Sargento’s $3.87 price for an 8-ounce package. Cream cheese: $0.80 saved over Philadelphia’s $2.79 price for an 8-ounce package. Milk: $1.70 saved over Pet’s $4.69 price for a 1-gallon jug. The list goes on and on. The money I save goes on and on. And the ingredients listed on the name brand labels are exactly the same as those listed on the generic brand labels.
There are no “secret” ingredients or special processes involved here. I am not talking about drinking generic cola instead of Coke or Pepsi. I am not talking about eating generic 100% whole wheat bread instead of Arnold’s. I am talking about everyday staples that are demonstrably identical except for the containers they come in. Regardless of how filthy rich one may be, why not save the money by buying generic brands since one is giving up nothing to do so?
And this doesn’t just apply to food staples. For example, every month I dose my septic system with a bacterial culture that eats down the stuff. If I buy the Ridx name brand, it will cost me $7.00 a dose. But if I buy the discount store’s generic brand, I’ll only pay $3.50. I choose to save the $3.50 difference. And why not? In this, as in every case that I’ve opted for a household generic product, the ingredients on the labels are the same.
This applies even more so to pharmaceuticals. My (Equate) generic brand coated aspirin saves me $3.30 per 100 tablets over Bayer’s $5.88 price. That’s over 50% saved. The savings on prescription drugs can be even more astronomical. And the ingredients are all the same.
Those small savings add up quickly. For me, twenty dollars, thirty dollars, maybe even forty dollars every month. How much more could a family of four save by buying generic brands? A hundred dollars a month? More? That is good money that can be used to reduce debt, have a nice family outing, or beef up the financial independence stash.
Bit by bit, one can either waste a bunch of money or save it. I choose to save. And why not? I am not giving up anything by buying generic brands. I am just keeping more of my money in my wallet.
So. Check the label. Buy based on content, not on brand. And bank the savings. Why leave that money, literally, on the store’s shelves? Why?
# # #
image courtesy of Stuart Miles at FreeDigitalPhotos.net