Do generic products really save you money?

With the price of living getting higher and higher as very year passes, people are looking for alternative ways to save money. The main reason for buying generic products, saving money, is simple enough. But there's also the satisfaction of not giving in to the marketing hype and buying something just because a company promotes it everywhere. The generic labels may not be as fancy as the brand-name products, and the taste of generic items, such as soda, may not appeal to you depending on your taste buds, but it's worth trying generic brands to see if you like them. The savings can add up over a lifetime, as a savings calculator can quickly show you. And if the savings isn't enough, or the brand name is much better than the generic, you can always go back to the branded product. You can even buy popular brands from the past. But remember the power of brands. Since the same manufacturer of a brand-name product often makes the generic product with the same ingredients, what the company selling the branded item is selling is the perception of something better. Consumers don't buy generic products because they think it makes them look bad, said Jason Gurwin, CEO of Pushpins, a mobile coupon company.
Over-the-counter medications.Since the Food and Drug Administration requires generic medications to have the same active ingredients as the patented medications they replace, over-the-counter medications are the best way to save money by buying generic. No one wants to skimp on their health, so you'd think that a generic brand might be iffy. But that's not the case, said Cathy Rosenbaum, a pharmacist and CEO of Rx Integrative Solutions, Inc. "There's a public perception that generics are cheap and bad," Rosenbaum said in a telephone interview with WalletPop. "Typically the generics are just as effective as the branded products,