6 Generic Products That Are Just As Good

AAA

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.

Cereal

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.

Prescription Drugs

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.

Over-The-Counter Meds

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.

Gas

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.
Related Articles
  1. ETFs & Mutual Funds

    Market Vectors Launches First Generic Drugs ETF (GNRX)

    Generic drugs have been a growing market in recent years. Now there is an ETF targeted at this market.
  2. Markets

    Are These 2015's 10 Best Generic Pharma Stocks?

    These 10 generic generic pharma stocks present a lot of upside potential for the second half of 2015. Here's why.
  3. Markets

    How to Profit from the Generic Drug Trend

    Generic drugs are poised to steal market share as patent protections on a number of branded drugs expire. Investors should be ready, too.
  4. Retirement

    6 Ways Retirees Can Save on Prescription Drugs

    Health 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.
  5. Investing

    The Best Foreign Stocks To Buy Now

    "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 ...
  6. Entrepreneurship & Small Business

    Explaining Brand Equity

    The value premium that a company realizes from a product with a recognizable name as compared to its generic equivalent.
  7. Personal Finance

    10 Mistakes To Avoid When Trying To Save Money

    Addressing the issue of saving money is the most fundamental, yet neglected aspect of personal finance in the U.S. today.
  8. Markets

    Why Lannett Cut Its Guidance for Fiscal 2016

    LannettĀ (NYSE: LCI) has revised downward its guidance for the current fiscal year. Among other line item projections, the company now believes it will post net sales of $555 million to $565 ...
  9. Personal Finance

    4 Secrets You Should Know When Buying Groceries

    With a little foresight, every consumer can find ways to eat healthier without spending much money.
  10. Markets

    What Happened on Marlboro Friday?

    On Friday, April 2, 1993, cigarette-giant Philip Morris announced it was cutting the price of its Marlboro brand by 20%.
Hot Definitions
  1. Duration

    A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. ...
  2. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  3. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
  4. Front Running

    The unethical practice of a broker trading an equity based on information from the analyst department before his or her clients ...
  5. After-Hours Trading - AHT

    Trading after regular trading hours on the major exchanges. The increasing popularity of electronic communication networks ...
  6. Omnibus Account

    An account between two futures merchants (brokers). It involves the transaction of individual accounts which are combined ...
Trading Center