Coupon myths and misconceptions: “Buying generic is the cheapest way to go.”

Well I'm officially on my sixth myth…and halfway through this series! I hope you are enjoying reading these as much as I am writing them.

Today I want to focus on one myth that always makes me cringe whenever I hear it. And I even will hear it occasionally from so-called "money experts" in their advice to overspending shoppers. So the myth goes something like this:

"While coupons will save you money on name brands, you are better off just buying generic brands at the store."

Now it is true – when you are at the store sans coupons, generally the best way to save money is to opt for the store brand over the name brand. But remember this: manufacturers want you to buy their products! That's why you'll often find high value coupons and rebate offers particularly for new products. And it's no coincidence that store sales often seem to coincide with these coupons.

If you need some convincing, here are just a few items I've been able to obtain recently for cheap, free, or better than free by combining coupons and store sales. Would their generic counterparts have been cheaper?

Oil of Olay Ribbons Bodywash, $0.36 at Walgreens
Visine eyedrops, rec'd $2 for buying 2 at Walgreens
GiletteMen's Bodywash, free at Kmart
10 cans Progresso soup, free at Albertsons
4 cans Pledge Multi-surface spray, ~$0.50 at Safeway
Boxed Quaker Instant Oatmeal, $0.50 at QFC
Revlon lip gloss, rec'd $1 for buying at Walgreens
Pampers Jumbo pack diapers, $3.33 at Albertsons

The above list is really a small sampling of what I ordinarily find on sale at grocery and drugstores. I want you to know I find these deals on a regular basis. On any given week, free stuff can be had with just a little digging (and even in my neck of the woods when stores almost never double coupons).

In all fairness, there is a time and a place for generic items for the avid couponer. In fact, I purchased a few myself today! Here are the scenarios that make best sense to me:

When you need the item and there are no sales and/or coupons to make the name brand versions a better deal.
When a store decides to run an awesome promotion or coupon on their in-house brands.

This should go without saying, but do be sure to select a store that generally has low prices in general for your generic-brand shopping!

Bottom line, one should be careful to say "generic is cheaper" as an absolute statement. In many cases, it's simply not true! Since couponing, I've found I've actually been able to enjoy the better brands for cheaper. If that seems counterintuitive, I invite you to join my coupon project and see for yourself!

Watch next week as I tackle yet another couponing myth.

Photo credit John Moore