Richer by the Day
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Buying generic products can almost certainly save you money. You have to remember though, that there is more to a purchase than just the money you spend. There is also enjoyment that you derive from using a product.

If we based our purchasing decisions purely on cost, then many of us would never buy anything but generic. There are also times when we don’t have a strong emotional attachment for a name brand product. As with most things I try to balance practical with pleasurable.

That means I use generic products whenever they are good enough to serve my need. For example, is Mountain Dew worth the 50 cent premium over Citrus Drop (or whatever your cleverly named Mt. Dew generic alternative is called)? For me it is not. I’d rather like my Citrus Drop for $0.69 per 2 Liter than love my Mountain Dew for $1.19. There are other products (hot dogs, for instance) where no discount could get me to buy generic. Everyone has there own preferences and for some people, the difference in taste may very well be worth it for buying Mountain Dew.

My general philosophy is to buy generic whenever I don’t care about the actual product, but need it for a purely utilitarian basis. For items that I have only a mild emotional connection with, I typically buy generic normally and might consider the branded product if a sale comes along. Even then, I have to play the game of whether my enjoyment is worth a premium, albeit a reduced premium. Lastly there are those items that I always buy the branded product. This three tiered philosophy doesn’t save as much money as possible, but does give me a good balance of value and satisfaction.

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