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A Frugal Word Of Advice: Go Generic and Save Some Green

10.12.2009 · Posted in Finance Articles

I interpreted a report about a week back that said by the time I am able to retire, there won’t be any Medicare or Social Security left in the account the government has set aside. Because of this, I am so happy that I have been capable to squeeze and set aside every penny I can. That way, by the point in time I am prepared to stop working, I could have an adequate amount of money to do so comfortably.nnI hope during my time at the Lucrative Investor I am able to help disclose some of my ideas with readers regarding how I live thriftily and put away I can.nnHere’s my initial word of advice:nnGenerics can conserve you a fortune.nnI am aware what you all are most likely thinking, “Of course store brands will save me some money, but they taste awful.”nnWell, you couldn’t be more wrong.nnPrior to us having children, my husband, Bryce, and I would use (probably too much) money on name brand items. We always bought Heinz ketchup, Kraft American cheese, Turner milk, Coca-cola soft drinks, etc Then as soon as the children came along, we knew that something had to be completed to control our expenditure behavior.nnCoupon clipping was the norm (and still is for us), but there would be times when we needed something like ketchup when we wouldn’t possess a coupon intended for it. That’s when we started buying store brand ketchup. Although we may fancy one generic over an alternative, in numerous cases the store brands taste comparable or identical to the name brand item.nnAs soon as we began purchasing the generics along with the coupon cutting for the name brands, there was a perceptible fall in the amount we were paying monthly in groceries. We were also still able to feed the kids all the same foods without any fussing. There was at least one month when we were able to put aside virtually $150 on groceries opposed to the month previous.nnHere’s a technique when it comes to fussy children: Purchase a box of their favorite breakfast cereal, but find a generic that is the equivalent “flavor.” After the package is empty of the name brand breakfast cereal, fill it up with the store brand cereal and they won’t ever notice the change. The technique can be used for a quantity of things (and ladies, husbands can be tricked this way also).nnIf you are still skeptical about name brands because of a stigma you might have acquired through the years, give them a taste at least once. The greatest part is, several grocery stores offer a money back guarantee if you don’t like their brand over the national name brand item.

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