Saving with 6abc: Generic vs. Name Brand
Do you think brand names - all dolled up in fancy packaging - work better than their generic counterparts?
Well, new research shows we waste about $44 billion a year on name brands!
A new report from economists in the Netherlands and the University of Chicago says smart people buy store brands.
We're not just talking financially smarts, but the advanced college degree kind.
They say pharmacists, doctors, even chefs buy generics more than anyone else and there's a science to it!
The chefs interviewed shared these secrets: when it comes to baking goods: sugar, salt, baking soda, etc., buy generic.
They splurged on name-brand yogurt, cereal, nuts and ice cream.
When it comes to doctors and pharmacists, 9 of out 10 say they buy generic pain medicine more often than the rest of us.
But they splurge on brand name Alka-Seltzer and contact lens solution.
LINKS:
Money.CNN.com
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ChicagoBooth.edu
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NPR.org
