Is Generic Just As Good?
Money-strapped shoppers are choosing generic over big name brands in their supermarket aisles. Consumers generally agree that generic diapers, toilet paper, condiments and cheese simply aren't worth the savings. However, there are a few generic products that make the grade. Here are six generics that are just as good as the real thing.
Most consumers find that generic cereals taste just as good as their brand name counterparts - not to mention the no-name brand will save you tons of moolah. A 14-ounce box of brand name corn flakes will run you about $2.99, while generic corn flakes generally cost a mere 99 cents. If you're still in doubt, check out the ingredients on the brand name cereal vs. the generic cereal. You'll probably discover they are exactly the same.
Generic prescription drugs typically cost between 20 and 80% less than their brand name counterparts. In 2008, the average retail price of a brand name prescription was $137.90 as compared to the average generic prescription price of $35.22. While many consumers worry that the generic prescriptions aren't as safe as the original brand-name drugs, pharmaceutical companies are required to use the same active ingredients in generic drugs as the brand name version. Plus, generic prescriptions must meet the same quality and safety standards.
While you may be tempted to reach for the trusty Tylenol, Nyquil or Zantac, there are usually much cheaper versions of these popular OTC meds on your pharmacy's shelves. The generic versions of these OTC meds contain the same active ingredients and must be approved by the FDA. Depending on the item, you could save loads of cash on generic OTC meds.
Basic Baking Products
From all-purpose flour and butter to spices, salt and sugar, generic baking staples are pretty much the same as the real thing with a much smaller price tag. The companies that produce these generic single-ingredient items are required to follow the same production and storage regulations as the brand name companies.
Good Morning America compared generic regular gas from a Liberty station to name-brand regular gas from a Mobil station that charged 20 cents more per gallon. They checked for sediment, diesel and contaminants in the lab, and determine that both versions of the unleaded gas met the 87 octane standard.
Fresh Fruits and Veggies
Don't let that catchy Chiquita banana melody entice you to overpay in the produce section. Fruits and vegetables from lesser-known growers are just as good - sometimes even better, especially if the produce was grown locally. When you hand-pick your fruits and vegetables, don't just go for the label you recognize. Go for the label-free produce that looks fresh and smells scrumptious.
Investing NewsGeneric drugs have been a growing market in recent years. Now there is an ETF targeted at this market.
Investing NewsThese 10 generic generic pharma stocks present a lot of upside potential for the second half of 2015. Here's why.
Fundamental AnalysisGeneric drugs are poised to steal market share as patent protections on a number of branded drugs expire. Investors should be ready, too.
RetirementHealth care is one of the biggest expenses retirees face, and a large component of that is prescription drugs. Thankfully there are ways retirees can save.
RetirementIt isn’t just your imagination: The price of prescription meds has been climbing. The trend is expected to continue, so start using these tips to save.
RetirementPrescription drug prices have doubled in seven years, and seniors are really feeling the crunch. What options do retirees have to help control drug costs?
Your ClientsThe rising cost of prescription drugs has caused many patients to scramble for funds. Here's what you can do to help clients lower pharmacy costs.
Stock Analysis"Buy American" isn't only an admonition in support of U.S. manufacturers. In recent years, it's also been the best advice for stock investors. U.S. stocks have radically outperformed shares of ...
SavingsDespite pushback from politicians and disgruntled consumers, the cost of drugs keeps going up. Is there any relief on the horizon?
RetirementIn choosing a Medicare Part D plan, here’s a helpful step-by-step guide to what you need to know to get the drugs you need at the price you can afford.