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Speaker 1: Welcome to How the Money. I'm Joel and I and Matt.

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Speaker 1: Today we're discussing choosing between name brands and generics. This

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Speaker 1: episode is gonna be dedicated to what I feel is

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Speaker 1: like a classically frugal question. Should I go with the

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Speaker 1: generic version or should I go with something that's more

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Speaker 1: name brands. So that's what we're gonna be tackling this episode.

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Speaker 1: We're gonna cover some of the different UH categories of

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Speaker 1: products where we feel going generic makes a lot of sense,

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Speaker 1: and we're gonna talk about when it makes sense to

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Speaker 1: go with the name brand and how to just really

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Speaker 1: think about it. Well, looking forward to talking with you

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Speaker 1: about this, buddy. Yeah, man, I think some personal finance

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Speaker 1: people who nerd out might be like store brand always

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Speaker 1: all the time. And you know, I think you and

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Speaker 1: I were partial to to store brands, were partial to

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Speaker 1: generics and a lot of instances, but not in every case.

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Speaker 1: And so yeah, we'll kind of give those parameters on

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Speaker 1: how to think about which one you choose. Matt. Before

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Speaker 1: we get to that, I wanted to give a quick

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Speaker 1: shout out to my seven year old. It's her birthday today.

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Speaker 1: She listens to the show, right, Oh, yeah, of course, yeah,

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Speaker 1: and uh so she just turned seven. But yeah, I

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Speaker 1: had a question for you because one of the gifts

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Speaker 1: that I gave her today actually purchased at least a

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Speaker 1: year and a half maybe two and a half years ago,

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Speaker 1: and I just kind of had it sitting up in

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Speaker 1: the top of the closet soever around Christmas time. Cost

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Speaker 1: actually has a pretty decent selection of presents for kids,

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Speaker 1: and I knew when I saw this gift, oh man,

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Speaker 1: seven year old son was gonna really love this, but

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Speaker 1: five year old Talma, I can't really play with this yet,

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Speaker 1: and so I ended up buying it ahead of time

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Speaker 1: and just kind of storing it, holding onto that. And

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Speaker 1: I feel like I've been doing that more and more

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Speaker 1: over the years. I didn't have something in our closet

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Speaker 1: from this past Christmas that our ten month old just

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Speaker 1: isn't ready to play with and might not be ready

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Speaker 1: to play with for another year. So you're probably wondering,

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Speaker 1: when is it old enough for my son to start

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Speaker 1: playing with a little be Begun? The Red Rider be

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Speaker 1: Begun not cool until at least eleven or twelve, I think.

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Speaker 1: But yeah, so I just what's your take. Do you

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Speaker 1: ever buy presence in advance. Do you ever see such

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Speaker 1: a good deal? But you're like, my kid is not

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Speaker 1: ready for that yet, but I'm gonna hang onto it

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Speaker 1: for a while. And this is one of the ways

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Speaker 1: where you and I are so different. I feel like,

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Speaker 1: like you're so good at thinking ahead like this, and

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Speaker 1: it's a valuable trait, you know, to to know that, Okay,

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Speaker 1: one of these days we'll get around to this. But

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Speaker 1: I just I tend not to think that way. Mine

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Speaker 1: sort of default is that I'm focusing on the risk

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Speaker 1: involved with that, right, I'm thinking what if what if

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Speaker 1: they don't like it, you know, like or this is

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Speaker 1: something that they may never get into. Uh. In this case,

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Speaker 1: it sounds like it was something that was maybe more

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Speaker 1: of a slam dunk for you, and so you thought, Okay,

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Speaker 1: surely this is gonna be something that's gonna work out.

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Speaker 1: But yeah, like where my mind goes is that, well,

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Speaker 1: I don't know if this is gonna be something that

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Speaker 1: they would actually want two years down the road. Yeah exactly. Yeah,

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Speaker 1: taste might change, something might go out of style, you know,

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Speaker 1: if it's something that's more timely. But I guess the

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Speaker 1: argument can be made that this could be something you

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Speaker 1: can give to any kid, right, and so like, even

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Speaker 1: if your daughter doesn't like it, you could kind of

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Speaker 1: put that on the shelf in the closet where maybe

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Speaker 1: you have some other gifts or other books that you're

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Speaker 1: planning to give other kids, you know, for their birthdays.

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Speaker 1: We kind of have a shelf like that in our

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Speaker 1: closet where we we find a deal on something, or

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Speaker 1: we find something that we really like, we buy a

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Speaker 1: bunch of those and set them aside, and that's just

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Speaker 1: something that we give to a bunch of kids that

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Speaker 1: year until we run out. Yeah. I love kind of

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Speaker 1: the idea of planning ahead with gifts for my my

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Speaker 1: kids friends, in particularly when there's a sale on something

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Speaker 1: and I'm like, yeah, I think people are gonna love that.

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Speaker 1: Then I don't mind stocking me up on a couple

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Speaker 1: of copies of a book or a couple of board

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Speaker 1: games or something like that, because you know, we love

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Speaker 1: board games, um and and hopefully her friends do too.

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Speaker 1: But yeah, and it keeps you from running into Target,

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Speaker 1: you know, last minute, and dropping thirty thirty five bucks

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Speaker 1: when you really you could have gotten a similar gift

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Speaker 1: for twelve bucks on sale exactly. Yeah, that's what I'm fine.

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Speaker 1: I can get behind that for sure. Okay, cool. Yeah,

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Speaker 1: so yeah, if I see something in the future and

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Speaker 1: it's like heavily discounted and I think my kids are

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Speaker 1: gonna like it when they're like eighteen nineteen, you know,

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Speaker 1: I don't know. Maybe maybe twelve years down the road

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Speaker 1: is too far to thinkin but uh, but yeah, Happy

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Speaker 1: birthday to my my seven year old Salma. And um,

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Speaker 1: I'm gonna keep buying year presence years in advance. Probably

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Speaker 1: all right, man, let's go ahead and introduce our beer

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Speaker 1: for this episode. Uh, this episode, we're drinking a Spotted

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Speaker 1: Cow and that's by a New Glaris brewing company. They're

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Speaker 1: out of Wisconsin. The Big Things. To our buddy James

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Speaker 1: for donating these to the show. I'm looking forward to

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Speaker 1: enjoying this one with you, man and sharing our thoughts

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Speaker 1: at the end of the episode. Yeah, James had some

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Speaker 1: friends going up to Wisconsin and he requested New Glaris

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Speaker 1: and then he shared someone in Love with us. New

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Speaker 1: Glaris makes great beers. Man, looking forward to having this

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Speaker 1: one with you, my friend. But let's get onto the

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Speaker 1: subject in hand. We're talking about name brands and generics.

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Speaker 1: How do you choose between them and Matt, Private labels

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Speaker 1: or generics are roughly sixteen percent of overall sales. In

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Speaker 1: particular for talking about the grocery store, and we're gonna

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Speaker 1: talk about grocery store, but we're also going to talk

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Speaker 1: about other decisions to write. Name brands are still more

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Speaker 1: popular with people, but still that sixteen percent number, it's

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Speaker 1: still a big shift from from years ago when store

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Speaker 1: brands were even less popular, right, But but private label

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Speaker 1: goods they're cheaper and often just as good as their

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Speaker 1: name brand counterparts. That's one of the things that we

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Speaker 1: definitely want to hammer home in this episode is that,

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Speaker 1: especially today, Uh, store brand goods are not massively inferior.

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Speaker 1: I think it's more of a psychological hurdle that we

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Speaker 1: have to overcome. And some store brands have even developed

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Speaker 1: like a cult following, and many people view them as

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Speaker 1: superior to the name brands that cost more. Matt. Of course,

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Speaker 1: you know, I like Costco and of course, and some

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Speaker 1: of their Kirkland signature products actually really hit the mark

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Speaker 1: on this. Uh, there's certain things that the Costco sells

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Speaker 1: under their store label that are actually much better tasting

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Speaker 1: or much better quality. Oftentimes than the name brand counterparts

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Speaker 1: that they sell right next to it. And it turns

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Speaker 1: out too that in it taste tests from Consumer Reports,

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Speaker 1: they did a study store brands taste just as good

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Speaker 1: as their name brand counterparts. So it's nice to have

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Speaker 1: that kind of factual information backing us up to that

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Speaker 1: Consumer Reports has provided. Yeah, the knots to mention the

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Speaker 1: boost that generic brands have also gotten, man, just from

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Speaker 1: there being less supply, you know, like when it comes

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Speaker 1: to toilet paper, folks were just wanting to get some

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Speaker 1: toilet paper in their house so that they didn't have

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Speaker 1: to use paper towels, right, nobody wanted to use papor towels.

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Speaker 1: That it didn't matter if you've got the name brand

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Speaker 1: or just any toilet paper in your bathroom. That's a

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Speaker 1: good point. Yeah, some of us have been forced to

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Speaker 1: try the store brands, even maybe when we never did before,

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Speaker 1: because that's all that's left on the shelf for certain

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Speaker 1: items right now. Yeah. Absolutely, um, And you know, so

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Speaker 1: you mentioned that test that Consumer Reports brand. It also

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Speaker 1: showed that your average savings from buying generic brands at

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Speaker 1: the grocery store is over snagging the name brand equivalent.

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Speaker 1: And since groceries are such a large part of most

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Speaker 1: of our budgets every single month, Like that's a big deal.

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Speaker 1: But again, you know, it's not just groceries that we're

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Speaker 1: talking about here. We'll certainly talk about the perks of

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Speaker 1: buying generic or store brands in the grocery store, but

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Speaker 1: also talk about, you know, how you can think about

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Speaker 1: name brands verse store brand alternatives in your everyday shopping,

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Speaker 1: you know, like like for clothes or for medicine as well.

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Speaker 1: You know, should you get that North Face rain jacket

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Speaker 1: or maybe an off brain equivalent? You know, is it

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Speaker 1: worth it to take a risk on some basic MASc

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Speaker 1: era or maybe you should just stick without higher end

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Speaker 1: stuff that you normally get. Sounds like a dilemma you

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Speaker 1: faced before all the time, and so by the end

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Speaker 1: of this episode, hopefully our listeners will be able to

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Speaker 1: easily answer these questions themselves based on some of the

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Speaker 1: things that we're gonna talk about. Yeah, Matt, And of

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Speaker 1: course we just already mentioned the obvious that it's more

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Speaker 1: affordable to buy store brand items, right, But it's also

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Speaker 1: important to note that most store brand products have the

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Speaker 1: exact same ingredients that are made incredibly similarly to their

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Speaker 1: name brand counterparts. There are lists on the internet Matt,

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Speaker 1: that you can easily hunt down on Google of items

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Speaker 1: that are actually not even just equivalently made or similarly made,

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Speaker 1: but that are the exact same item as the store brand.

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Speaker 1: So like, for example, Kirkland Signature again Costco, their batteries

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Speaker 1: are apparently from everything you can find on the internet,

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Speaker 1: the exact same as Durstall batteries. There's no difference except

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Speaker 1: for the exterior rapper on them, and a lot of

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Speaker 1: people don't know that that. Sometimes name brand manufacturers are

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Speaker 1: actually making the store brand items themselves, so oftentimes there

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Speaker 1: just isn't really much of a difference in quality. But

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Speaker 1: but even still, it can be easy for us to

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Speaker 1: spend too much money on name brands in the grocery store.

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Speaker 1: And and I think part of that, right is, is

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Speaker 1: due to in store displays kind of drawing our eyes,

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Speaker 1: drawing our attention, and it makes it easier to grab

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Speaker 1: something that costs more and looks familiar because we've seen

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Speaker 1: it on TV. Also, Matt, I actually dug up some

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Speaker 1: fascinating supermarket stats that provided some helpful information kind of

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Speaker 1: on this, and and they show that we tend to

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Speaker 1: spend forty of our money on whatever the store manager

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Speaker 1: is promoting on the aisles and caps. That means we're

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Speaker 1: susceptible to buying the most expensive products just because of

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Speaker 1: where they're placed. And some of the name brands actually

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Speaker 1: have paid lots of money to grocery stores throughout the

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Speaker 1: years to be placed at high level, to be placed

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Speaker 1: at the best spot for consumers to reach their goods,

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Speaker 1: Like we don't even like to bend down to go

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Speaker 1: to the lowest shelf and the grocery store to look

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Speaker 1: for you know, cheaper items or store brand equivalents. Joel.

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Speaker 1: That actually reminds me of so Uh in King of Kong,

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Speaker 1: you know that documentary. We've talked about this before. My

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Speaker 1: favorite ones Billy Mitchell, the you know, like the bad guy.

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Speaker 1: He has hot sauce and I remember there's this one

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Speaker 1: scene when he's in the store and they're you know,

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Speaker 1: filming him and he's talking about I guess this hot sauce.

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Speaker 1: Were talking about video games, and he's like I remember

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Speaker 1: him like pushing back the other hot sauces and pulling

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Speaker 1: his forward so they like take up more shelf space.

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Speaker 1: It's such a dirt bag. But yeah, you're in a

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Speaker 1: much greater advantage if everyone could see your stuff, and

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Speaker 1: it makes a huge deal. That shell space makes all

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Speaker 1: the difference. And you're talking about the studies. They also

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Speaker 1: showed that the average visit to the grocery store that

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Speaker 1: it lasts about thirteen minutes, and of that thirteen minutes,

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Speaker 1: we dedicate at most of our time in the store

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Speaker 1: to actually selecting things to buy. Uh, and the rest

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Speaker 1: of the time turns into just this quote unquote in

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Speaker 1: effective wandering, you know. And so from the marketer standpoint,

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Speaker 1: this is valuable time that they have to position their

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Speaker 1: products in front of our eyes, you know, hoping that

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Speaker 1: they end up in our carts. Uh, And we're gonna

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Speaker 1: end up spending more money on these name brand products.

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Speaker 1: And this can suck when we're not even aware that

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Speaker 1: we're even doing that. Yeah, I think the worst possible

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Speaker 1: way to go in the grocery stores to go in Hungary,

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Speaker 1: and then the second worst way to go into a

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Speaker 1: grocery stores to go in board. Yeah, you're you're looking

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Speaker 1: for stuff to buy. In both ways, you're susceptible to

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Speaker 1: buying a much of stuff that you don't need. But

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Speaker 1: in particular, we're more susceptible to buying the name brand

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Speaker 1: items that are specifically shoved in front of our faces.

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Speaker 1: But so much of the time when you brand name items,

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Speaker 1: you're paying for clever branding and advertisements. We all know that,

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Speaker 1: but still sometimes we get hooked. That's not always the case.

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Speaker 1: Of course, some name brand items make more sense for us,

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Speaker 1: and they're worth the additional money. Right For example, maybe

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Speaker 1: some name brand running shoes. You might not want the

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Speaker 1: ten dollar shoes the bargain baseman price. Yeah, I will

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Speaker 1: not wear ten dollar bargain basement tennis shoes to to

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Speaker 1: go run. Yeah, I don't gonna do. I wouldn't do

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Speaker 1: it either if I like to run wreck my knees.

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Speaker 1: But of course there are a lot of times where

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Speaker 1: it does make sense and you want to save more

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Speaker 1: money by going with store brands and generics, and it's

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Speaker 1: gonna be a big help to your budget. And later

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Speaker 1: on the show, we're gonna talk about kind of some

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Speaker 1: principles for how you make the choice, But before we

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Speaker 1: get to that, we're going to talk about specific items

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Speaker 1: that we think it makes the most sense to buy

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Speaker 1: generic or store brand equivalent, and we'll get to some

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Speaker 1: of those right after the break. All right, Joe, we

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Speaker 1: are back from the break, and let's go ahead and

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Speaker 1: talk about some of the best items that we think

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Speaker 1: folks should be buying generic. And I say we think

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Speaker 1: because I'm pretty much any one of these categories. I

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Speaker 1: feel that someone who's listening could say, no, you guys

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Speaker 1: are being way too cheap. That's not something you should

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Speaker 1: go generic on. And so I guess I want to

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Speaker 1: preface with that because it all comes down to the

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Speaker 1: things that we value. Obviously, there's certain things that you

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Speaker 1: and I would like to spend good money on. We

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Speaker 1: spend good money on quality local craft beer, not just local,

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Speaker 1: but just nice craft beer from all across the country,

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Speaker 1: all across the world. And that's not something that a

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Speaker 1: lot of people would do. And so there are certain

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Speaker 1: categories where you're gonna want to spend more money on

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Speaker 1: than we are. So that being said, let's go ahead

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Speaker 1: and name a few, you know, categories, a few things

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Speaker 1: where you know, we feel that you should almost never

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Speaker 1: be buying the name brand version. All right, let's talk

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Speaker 1: about beer real quick for a second. Matt. While we're

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Speaker 1: talking about alcohol, dive into it. That is something that

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Speaker 1: I think a lot of people would be happy to

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Speaker 1: buy generic of to buy just kind of store brand

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Speaker 1: Aldi beer, Costco beer or whatever it is. Trader Joe's

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Speaker 1: has their own beers that they sell. Well, some of

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Speaker 1: Trader Joe's beers are actually good. Uh, they're okay. Yeah,

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Speaker 1: there's there's a couple that are made by specific brews,

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Speaker 1: but you gotta kind of dive deep for those. Yeah,

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Speaker 1: And I generally speaking, you're talking about just like the

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Speaker 1: light loggers sitting on the shelf. But even sometimes they

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Speaker 1: try to make like a porter or something like a

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Speaker 1: decent style of beer that I enjoy, and I just

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Speaker 1: find that they're never as good as the beer that

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Speaker 1: I typically get from better known breweries and local brewers

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Speaker 1: that make just really really good stuff. So that's something

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Speaker 1: I'm not willing to compromise on. But I think some

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Speaker 1: people would be happy and and are typically happy with

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Speaker 1: the generic beer equivalence. But what about spirits, Matt, I

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Speaker 1: think that's actually, at least in my mind, maybe someone

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Speaker 1: who's not a connoisseur that I'm more than willing to

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Speaker 1: go generic on a whiskey or a vodka or something

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Speaker 1: like that. It kind of depends on on which spirit

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Speaker 1: you're talking about, because when it comes to like scotch,

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Speaker 1: like there's a type of Scotch that I like to drink,

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Speaker 1: but pretty much everything else that I'm willing to cut

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Speaker 1: some corners on for sure. Yeah. Well again Costco for

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Speaker 1: the win here, man, They've got some Kirkland signature like

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Speaker 1: vodka and uh and tequila products that I've actually enjoyed

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Speaker 1: throughout the years, but those just starting things I drink

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Speaker 1: very frequently, so I'm probably not the best person to

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Speaker 1: judge on that. Yeah, but I've read stories and like

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Speaker 1: heard podcasts actually on how like the high end like

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Speaker 1: top shelf vodka, it's not any better than the cheap stuff,

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Speaker 1: you know, when you're going for something tasting like nothing. Uh, well,

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Speaker 1: like it's all the same and you're talking about a

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Speaker 1: discount typically Yeah, he's from the high end stuff. Yeah. Well,

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Speaker 1: while we're on the topic of alcohol, we may as

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Speaker 1: well talk about drugs as well. Yeah, yeah, name brand

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Speaker 1: over the counter drugs and medicine. Man, they make no

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Speaker 1: sense to me, you know, like when the active ingredient

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Speaker 1: is exactly the same as the store brand, I think

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Speaker 1: we should all be reaching for the generic. I think

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Speaker 1: One of the ways that name brands kind of get

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Speaker 1: you when it comes to purchasing their medicines over the

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Speaker 1: generic the store brand is because a lot of times

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Speaker 1: I think when you're sick, you don't really care about

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Speaker 1: like saving fifty cents. You're you're just thinking, oh, like

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Speaker 1: no matter what, I want to be better, you know,

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Speaker 1: like I want the best thing that money can buy.

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Speaker 1: But like you're not really taking the time to realize

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Speaker 1: that like this is really the same stuff. Yeah, that

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Speaker 1: your money is not actually going further and making a

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Speaker 1: difference in how quickly you're going to recover. Those medicines

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Speaker 1: that you're buying have the same active ingredient there, they're

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Speaker 1: almost same. They might have, like at least for kids,

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Speaker 1: like a slightly different flavor or a different packaging. Yeah, yeah,

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Speaker 1: you're paying for nicer, shinier packaging. Yeah, pretty much a

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Speaker 1: better designed label for sure, But that's a you know,

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Speaker 1: it's also better to get generic prescription drugs too, if

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Speaker 1: you know they will work for you as well, Like

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Speaker 1: these will save you a ton of money, So make

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Speaker 1: sure to check in with your doctor, you know, when

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Speaker 1: they're prescribing something, ask if there is a generic equivalent

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Speaker 1: or even once you get to the pharmacy, check with

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Speaker 1: the pharmacist and see if there is an equivalence that

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Speaker 1: could potentially save you a ton of money. Yeah. Sometimes

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Speaker 1: I've showed up the pharmacy and I've gotten the quote

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Speaker 1: on how much it's gonna cost, and my first question

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Speaker 1: is is there a generic equivalent? Because the sticker shot

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Speaker 1: can be so great, and typically there is. Um If

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Speaker 1: there's not, obviously there are other workarounds, but I agree

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Speaker 1: for a lot of prescription drugs there are generic equivalents

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Speaker 1: that are just as good and that cost a fraction

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Speaker 1: of the amount that you would otherwise pay. All right,

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Speaker 1: let's talk about baby formula. That's one of those things

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Speaker 1: that is a big money saver that you're feeling right

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Speaker 1: now by buying generic instead of bout the name brand. Right,

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Speaker 1: we're definitely spending a large portion of our monthly allotted

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Speaker 1: budget towards grocery just on baby formula because that stuff

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Speaker 1: is expensive. Yeah, for sure, we're not doing formula right now,

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Speaker 1: but I know that the last time we had to,

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Speaker 1: we were able to get it from Costco, and I

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Speaker 1: can see the equivalent name brand product sitting right next

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Speaker 1: to it in the same size, packaging, same serving size

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Speaker 1: and everything, and it's twice as much money and you're

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Speaker 1: getting gears from all the similar story really where it's

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Speaker 1: a whole lot less than the name brand, and really

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Speaker 1: it's not all that different of a of a product.

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Speaker 1: The same ingredients are involved. Yeah, the biggest thing when

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Speaker 1: it comes to formula specifically is to look at you know,

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Speaker 1: what they compare it to, because you know, like all

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Speaker 1: different instance, they've got three or four or five different

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Speaker 1: kinds of formula and on each one of them they

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Speaker 1: say compared to a different name brand, similar pro formula

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Speaker 1: or whatever. I don't don't even know what it says,

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Speaker 1: but uh, that lets you know that you know if

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Speaker 1: your baby does like a specific brand because of formulas

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Speaker 1: are different between some of the different makers. Right, we're

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Speaker 1: not saying that they're all the same. But when you're

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Speaker 1: able to get apples to apples, you know you've got

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Speaker 1: that name brand Apple and you're comparing it to the

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Speaker 1: generic Apple. The formulas are almost identical. And so if

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Speaker 1: that's something you're considering, you're considering switching to the generic.

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Speaker 1: Look specifically for that name brand kind of written on

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Speaker 1: there that you're supposed to compare it to that'll get

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Speaker 1: you far. Yeah, and babies typically once they've kind of

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Speaker 1: gotten started on a specific kind of formula, they don't

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Speaker 1: like to switch. They don't take to it super easily.

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Speaker 1: So yeah, finding the most direct comparison that you can

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Speaker 1: it makes it more likely that they're actually going to

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Speaker 1: make the switch. Well yea, yeah, we're not saying to

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Speaker 1: go super cheap and just to switch your baby to

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Speaker 1: the cheapest, most easily accessible stuff because you know, yeah,

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Speaker 1: it's really important to keep the baby happy exactly, making

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Speaker 1: some of that sanity, especially if it means they're going

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Speaker 1: to sleep through the night or not. Yeah, all right,

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Speaker 1: so WHI we're talking about babies were place, Let's talk

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Speaker 1: about diapers, Matt. Have you found any difference in name

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Speaker 1: brand diapers versus store brand diapers or even just kind

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Speaker 1: of more generic brands that aren't the ones that you

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Speaker 1: see on TV? Ye. I mean this is an area

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Speaker 1: that where I can say that the store brand was,

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Speaker 1: in our opinion, was stinking better than the a couple

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Speaker 1: of the different name brands that we were trying out.

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Speaker 1: You know, a lot of times when you have a baby,

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Speaker 1: people will give you a lot of different random stuff,

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Speaker 1: including diapers, and so I remember specifically having some of

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Speaker 1: the fancy diapers, you know, like Pampers or whatever the

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Speaker 1: other brands are. I specifically remember how you know they

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Speaker 1: would leak, especially overnight, and so like you get up

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Speaker 1: in the morning, get the baby up, and you kind

402
00:17:21,440 --> 00:17:23,360
Speaker 1: of have to like change the onesie, change the sheet

403
00:17:23,359 --> 00:17:25,880
Speaker 1: because everything's wet. It wasn't so after we ran out

404
00:17:25,880 --> 00:17:28,120
Speaker 1: of all those diapers that we started trying out Targets

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Speaker 1: up and Up. Dude, those diapers were way better than

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Speaker 1: the name brand. And so ever since then we had

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Speaker 1: stuck with uh Targets brand, which was the up and Up.

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Speaker 1: This is just an instance where I feel that going

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Speaker 1: with the store brand was just way way better. Yea,

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Speaker 1: So we actually did cloth diapers with the first two kidtos,

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Speaker 1: but I think we got really lazy with number three,

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Speaker 1: and so we're doing regular diapers. And we tried one

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Speaker 1: of the cheaper name brands for a while, and then

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Speaker 1: we switched to a store brand, the Costco store brand,

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Speaker 1: of course, and we promised this is not just a

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Speaker 1: sponsored episode for Costco. Even don't though it sounds like

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Speaker 1: it is. I'm just in love. But yeah, so I

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Speaker 1: need to give all the more love. Yeah, I mean

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Speaker 1: all the rocks too. But the diapers, the Kirkland signature

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Speaker 1: diapers were just so much more absorbent. They were way better.

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Speaker 1: All right, let's talk about water. Yeah, you should probably

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Speaker 1: just be drinking tap water, I think, and maybe filter

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Speaker 1: tap water if you're into that. But it's so incredible

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Speaker 1: to see the differentiation that's happened in the water category. Man,

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Speaker 1: they're super fancy name brand water. There's kind of like

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00:18:24,480 --> 00:18:27,560
Speaker 1: we'reunning the mill name brand bottle of water. Now, it's

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Speaker 1: just kind of all over the place. It's crazy to

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Speaker 1: think how much more you could pay for certain brands

429
00:18:32,600 --> 00:18:35,560
Speaker 1: of bottle of water that really aren't that much different.

430
00:18:35,680 --> 00:18:37,200
Speaker 1: And actually, when you read up on bottle of water,

431
00:18:37,440 --> 00:18:39,840
Speaker 1: so many different varieties of bottle of water are actually

432
00:18:39,880 --> 00:18:43,080
Speaker 1: just tap water put in a plastic bottle. And so yeah,

433
00:18:43,119 --> 00:18:45,879
Speaker 1: I would say try to remind yourself when you're buying water,

434
00:18:46,200 --> 00:18:48,200
Speaker 1: when you actually do need to buy bottle water, which

435
00:18:48,200 --> 00:18:51,320
Speaker 1: should be rare, that it's just marketing and Jedimi tricks

436
00:18:51,359 --> 00:18:53,640
Speaker 1: trying to get you to buy something that's more expensive

437
00:18:53,640 --> 00:18:55,560
Speaker 1: that you don't actually need. Yeah, so le, let's kind

438
00:18:55,560 --> 00:18:57,240
Speaker 1: of get out of the grocery store a little bit

439
00:18:57,520 --> 00:19:00,000
Speaker 1: and a category where I feel there's such a huge

440
00:19:00,119 --> 00:19:02,600
Speaker 1: disparity between you know, going with something that's a little

441
00:19:02,600 --> 00:19:06,120
Speaker 1: more generic and something that's name brand our glasses. Man,

442
00:19:06,160 --> 00:19:08,240
Speaker 1: this is something that I have to deal with every

443
00:19:08,280 --> 00:19:11,600
Speaker 1: few years when I purchased some new glasses. But check

444
00:19:11,600 --> 00:19:14,520
Speaker 1: out sites like Zeny Optical, which is my favorite, or

445
00:19:14,560 --> 00:19:17,760
Speaker 1: even Goggles for you in order to get your prescription

446
00:19:17,760 --> 00:19:20,800
Speaker 1: glasses at a massive discount over some of those different

447
00:19:20,840 --> 00:19:23,720
Speaker 1: designer name brands. You should make sure that you're going

448
00:19:23,800 --> 00:19:26,600
Speaker 1: into the epometrist, you know, to ensure that your prescription

449
00:19:26,800 --> 00:19:28,879
Speaker 1: is correct and up to date. But then you know,

450
00:19:28,960 --> 00:19:32,040
Speaker 1: take that information and order your glasses online to to

451
00:19:32,119 --> 00:19:34,679
Speaker 1: save a ton and also, you know, from personal experience,

452
00:19:34,720 --> 00:19:37,159
Speaker 1: I promise that you'll see just as well too. I

453
00:19:37,200 --> 00:19:39,360
Speaker 1: mean I've been using Zenny for years now, and every

454
00:19:39,359 --> 00:19:41,520
Speaker 1: few years I'll put a big order where I'll order

455
00:19:41,560 --> 00:19:43,560
Speaker 1: like three or four different pairs just to try out

456
00:19:43,560 --> 00:19:46,000
Speaker 1: some new ones. Maybe to get an updated pair of sunglasses,

457
00:19:46,000 --> 00:19:48,000
Speaker 1: because you can get prescription sunglasses as well and have

458
00:19:48,040 --> 00:19:50,440
Speaker 1: them tinted. Just get a fresh look, you know, yeah,

459
00:19:50,440 --> 00:19:52,359
Speaker 1: I just get a fresh look. For sure. My my

460
00:19:52,359 --> 00:19:55,080
Speaker 1: my regret. With my most recent sunglass purchases, I wish

461
00:19:55,119 --> 00:19:57,440
Speaker 1: I would have gone with the mirror coating on the outside.

462
00:19:57,600 --> 00:19:59,320
Speaker 1: I forgot what the up charge was for that. But

463
00:19:59,440 --> 00:20:01,199
Speaker 1: you know, more I see people with the with the

464
00:20:01,240 --> 00:20:03,080
Speaker 1: mirrored sunglasses, I'm like, dang it, I should have done

465
00:20:03,119 --> 00:20:05,160
Speaker 1: that route. You don't want people looking in your eyes.

466
00:20:05,200 --> 00:20:07,120
Speaker 1: That's what it is. Oh, you got sunglasses on people

467
00:20:07,119 --> 00:20:08,720
Speaker 1: can't really see anyway. But I don't know. I feel

468
00:20:08,720 --> 00:20:10,280
Speaker 1: like when you have sunglasses on them that have the

469
00:20:10,320 --> 00:20:12,000
Speaker 1: mirrored look and it's like kind of colored, it's got

470
00:20:12,040 --> 00:20:14,160
Speaker 1: a nice gradient, it just it doesn't matter where you are,

471
00:20:14,200 --> 00:20:15,480
Speaker 1: but you look like you should be at the beach.

472
00:20:15,520 --> 00:20:18,239
Speaker 1: You know, No, I understand, But yeah, I think you're

473
00:20:18,320 --> 00:20:20,479
Speaker 1: right on the on the glasses front, and that's a

474
00:20:20,480 --> 00:20:23,360
Speaker 1: place where you can save eighty or ninety percent, right, Yeah,

475
00:20:23,359 --> 00:20:25,840
Speaker 1: easily going with Zenny or goggles for you or something

476
00:20:25,880 --> 00:20:28,280
Speaker 1: like that, you're gonna save a ton over money. Dude

477
00:20:28,320 --> 00:20:30,720
Speaker 1: walking into your local optometry's office and picking out whatever

478
00:20:30,760 --> 00:20:32,800
Speaker 1: is on the wall. Yeah, well, specifically, like my first

479
00:20:32,800 --> 00:20:34,200
Speaker 1: pair of glasses I ever got were a pair of

480
00:20:34,280 --> 00:20:35,919
Speaker 1: ray bands, because you know, I was just like, all right,

481
00:20:35,960 --> 00:20:37,520
Speaker 1: I want some thick frame ray bands. I want to

482
00:20:37,560 --> 00:20:39,320
Speaker 1: kind of look like Ira Glass a little bit. Sure,

483
00:20:39,320 --> 00:20:41,560
Speaker 1: I look cool. I end up spending so much money

484
00:20:41,600 --> 00:20:43,280
Speaker 1: on that pair of frames and they look cool. But

485
00:20:43,400 --> 00:20:45,159
Speaker 1: I've got framed man that look just as good that

486
00:20:45,200 --> 00:20:47,200
Speaker 1: I get for twenty bucks for a pair of frames

487
00:20:47,240 --> 00:20:49,600
Speaker 1: from from Zenny, So I highly recommend them. Yeah, that's

488
00:20:49,600 --> 00:20:51,639
Speaker 1: a good one. All right. Let's talk about gasoline for

489
00:20:51,680 --> 00:20:53,760
Speaker 1: a second, And that's not something that people normally think

490
00:20:53,800 --> 00:20:57,320
Speaker 1: about buying a generic or buying a store brand, but

491
00:20:57,400 --> 00:21:00,320
Speaker 1: it happens, and there are significant price disparities between different

492
00:21:00,320 --> 00:21:03,280
Speaker 1: gas stations, and typically the difference is kind of name

493
00:21:03,320 --> 00:21:06,679
Speaker 1: brand versus off brand, or like a warehouse club or

494
00:21:06,680 --> 00:21:09,080
Speaker 1: one of those gas stations that has like twenty pumps

495
00:21:09,119 --> 00:21:11,679
Speaker 1: that does a lot of business. And some people are

496
00:21:11,720 --> 00:21:15,040
Speaker 1: are convinced of buying gas at the major stations is

497
00:21:15,119 --> 00:21:17,840
Speaker 1: better for your car, and the advertisements kind of trying

498
00:21:17,880 --> 00:21:19,960
Speaker 1: to sell you on that as well, but it's just

499
00:21:19,960 --> 00:21:22,640
Speaker 1: not true. Right, Buying cheaper gas will not harm your car,

500
00:21:22,720 --> 00:21:25,720
Speaker 1: and as long as you're getting the proper octane that

501
00:21:25,960 --> 00:21:29,240
Speaker 1: is meant for your vehicle, then you're fine. Again, so

502
00:21:29,320 --> 00:21:31,800
Speaker 1: much of it comes down to branding saying that they

503
00:21:31,840 --> 00:21:35,000
Speaker 1: have included special detergents in their gasoline. But there's just

504
00:21:35,080 --> 00:21:38,200
Speaker 1: no discernible difference in any of that stuff. It's it's

505
00:21:38,240 --> 00:21:42,920
Speaker 1: really just marketing mumbo jumbo. And what about organics, organic foods?

506
00:21:43,000 --> 00:21:46,280
Speaker 1: If if eating organic is important to you, it's gotten

507
00:21:46,280 --> 00:21:49,320
Speaker 1: a lot easier to eat organic. But on a budget,

508
00:21:49,520 --> 00:21:52,120
Speaker 1: you know, you can definitely get store brand organics now

509
00:21:52,480 --> 00:21:54,960
Speaker 1: on the reg so it doesn't have to come down to,

510
00:21:55,119 --> 00:21:56,720
Speaker 1: you know, whether you're going to fork out the money

511
00:21:56,840 --> 00:21:59,879
Speaker 1: for the name brand individually wrapped single serve of Kiwi

512
00:22:00,480 --> 00:22:02,840
Speaker 1: that you might they pick up from Whole Foods. You

513
00:22:02,880 --> 00:22:05,320
Speaker 1: can easily pick up some great organic foods from you know,

514
00:22:05,320 --> 00:22:08,800
Speaker 1: stories like Aldi from Walmart. Last I checked, Walmart is

515
00:22:08,840 --> 00:22:11,600
Speaker 1: actually the largest retailer of organic foods because of the

516
00:22:11,720 --> 00:22:14,080
Speaker 1: number of stores that they have all across the country.

517
00:22:14,320 --> 00:22:17,520
Speaker 1: And in my book, Walmart isn't considered name brand, no, no,

518
00:22:17,760 --> 00:22:20,320
Speaker 1: for sure, And yeah, just organics in general, the prices

519
00:22:20,359 --> 00:22:22,480
Speaker 1: come down so much, and so much of that is

520
00:22:22,640 --> 00:22:27,000
Speaker 1: due to store brands creating a line of organics and

521
00:22:27,280 --> 00:22:30,200
Speaker 1: pricing them competitively. And so yeah, we've seen Kroger, aldi

522
00:22:30,240 --> 00:22:32,600
Speaker 1: Walmart get into the mix, and it means that buying

523
00:22:32,680 --> 00:22:35,119
Speaker 1: organics has just gotten so much easier, and it's gotten

524
00:22:35,200 --> 00:22:37,680
Speaker 1: so much cheaper. And Matt, you and I, well, when

525
00:22:37,720 --> 00:22:39,919
Speaker 1: it comes to shopping in the grocery store, we're not

526
00:22:39,960 --> 00:22:42,440
Speaker 1: banking cuponning. Some people really like that and they find

527
00:22:42,440 --> 00:22:44,479
Speaker 1: that a good way to save money, but you and I,

528
00:22:44,520 --> 00:22:45,840
Speaker 1: we we kind of find that to be more of

529
00:22:45,840 --> 00:22:49,680
Speaker 1: a hassle. It's cumbersome my style. Now, I'm not into it.

530
00:22:49,720 --> 00:22:52,000
Speaker 1: But it's important to note that actually coupons have an

531
00:22:52,040 --> 00:22:54,800
Speaker 1: effect that can sometimes make the name brand items a

532
00:22:54,840 --> 00:22:57,320
Speaker 1: whole lot cheaper than the store brand items. So if

533
00:22:57,320 --> 00:23:01,280
Speaker 1: you're into coupons and sales shopping, you can potentially save

534
00:23:01,400 --> 00:23:04,320
Speaker 1: by sticking to name brands. So this is kind of counterintuitive,

535
00:23:04,359 --> 00:23:06,199
Speaker 1: counter to what we've just been talking about, but if

536
00:23:06,200 --> 00:23:09,439
Speaker 1: you do like to shop sales and use coupons, you

537
00:23:09,520 --> 00:23:13,160
Speaker 1: might actually save more if you time things right by

538
00:23:13,320 --> 00:23:15,760
Speaker 1: taking those tactics in order to buy name brands. Just

539
00:23:15,840 --> 00:23:18,440
Speaker 1: felt like that was worth bringing up because some people

540
00:23:18,480 --> 00:23:20,480
Speaker 1: are like, no, I want the name brand oreos, not

541
00:23:20,520 --> 00:23:22,679
Speaker 1: the fake ones, and you might do better if you

542
00:23:22,800 --> 00:23:25,680
Speaker 1: hold out for the coupons to to rolling in the paper. Yeah,

543
00:23:25,760 --> 00:23:28,040
Speaker 1: but I mean at the same time, though, sometimes those

544
00:23:28,040 --> 00:23:30,480
Speaker 1: coupons will just bring the name brands down to the

545
00:23:30,520 --> 00:23:33,439
Speaker 1: same cost as the store brands, right, And so in

546
00:23:33,440 --> 00:23:35,359
Speaker 1: that case, you're spending a lot of time and effort

547
00:23:35,600 --> 00:23:37,600
Speaker 1: just to save a little bit of money to get

548
00:23:37,960 --> 00:23:39,879
Speaker 1: you know, a product that might be better but just

549
00:23:39,960 --> 00:23:42,000
Speaker 1: at the same price. And so in my mind, the

550
00:23:42,000 --> 00:23:44,400
Speaker 1: way I see it, you're just wasting a lot of time. Well,

551
00:23:44,520 --> 00:23:47,040
Speaker 1: those name brand oreos are better, I think, right, That's

552
00:23:47,040 --> 00:23:48,479
Speaker 1: one place I think a lot of people would say,

553
00:23:48,520 --> 00:23:51,960
Speaker 1: I'm drawing the line we never buy oreos. I don't either,

554
00:23:52,040 --> 00:23:55,000
Speaker 1: but like, I know that I've had both kinds, and

555
00:23:55,160 --> 00:23:56,919
Speaker 1: I know that the name brand oreos are better than

556
00:23:56,960 --> 00:23:58,680
Speaker 1: the fake ones. Like, they're just certain things that we've

557
00:23:58,680 --> 00:24:00,480
Speaker 1: had experience with, and we know we have a line

558
00:24:00,520 --> 00:24:02,000
Speaker 1: that we draw and and we're not going to go

559
00:24:02,040 --> 00:24:04,080
Speaker 1: past that when it comes to buying the off brand

560
00:24:04,200 --> 00:24:06,240
Speaker 1: fair enough, I just use that as a deterrent to

561
00:24:06,320 --> 00:24:09,840
Speaker 1: keep me from buying the things that I shouldn't buy. Well, Joe,

562
00:24:09,880 --> 00:24:11,479
Speaker 1: I'll not know. We're gonna take a quick break, but

563
00:24:11,560 --> 00:24:13,639
Speaker 1: after that we're gonna talk about how to go about

564
00:24:13,760 --> 00:24:15,359
Speaker 1: thinking through whether or not you should go with a

565
00:24:15,480 --> 00:24:17,720
Speaker 1: name brand, how you should go about making that decision.

566
00:24:17,760 --> 00:24:29,359
Speaker 1: So we'll get to that right after the break. All right,

567
00:24:29,400 --> 00:24:31,520
Speaker 1: we're back from the break, and let's talk about when

568
00:24:31,640 --> 00:24:33,400
Speaker 1: it does make sense to go with the name brand.

569
00:24:33,440 --> 00:24:35,520
Speaker 1: We just gave kind of a bunch of categories where

570
00:24:35,560 --> 00:24:38,000
Speaker 1: we think the store brand or the generic makes a

571
00:24:38,000 --> 00:24:39,800
Speaker 1: whole lot more sense. It's going to save you money,

572
00:24:40,200 --> 00:24:42,399
Speaker 1: and it's gonna be just as good as what you

573
00:24:42,440 --> 00:24:44,919
Speaker 1: would have bought except for the oreos. But when does

574
00:24:44,960 --> 00:24:46,760
Speaker 1: it make sense to go with the name brand. Well,

575
00:24:47,000 --> 00:24:48,920
Speaker 1: if there is a type of product that you're looking

576
00:24:48,920 --> 00:24:51,760
Speaker 1: for and there just isn't a generic equivalent, Right, Sometimes

577
00:24:51,800 --> 00:24:55,000
Speaker 1: with certain items, in particular, Matt, from what I hear

578
00:24:55,080 --> 00:24:58,760
Speaker 1: from my wife cosmetics, there just isn't a generic available

579
00:24:58,840 --> 00:25:01,080
Speaker 1: that has the same formula. Uh So, these, of course

580
00:25:01,080 --> 00:25:04,120
Speaker 1: would be instances where the quality just isn't the same

581
00:25:04,160 --> 00:25:06,840
Speaker 1: and the product is different enough that it makes sense

582
00:25:07,080 --> 00:25:09,200
Speaker 1: to get the name brand and not trying to hold

583
00:25:09,200 --> 00:25:13,880
Speaker 1: out for a generic that just isn't nearly as good. Yeah, certainly, man,

584
00:25:13,920 --> 00:25:16,040
Speaker 1: if the quality of the generic isn't up to snuff,

585
00:25:16,160 --> 00:25:18,560
Speaker 1: then that's something you want to avoid completely, otherwise you'll

586
00:25:18,600 --> 00:25:21,200
Speaker 1: be branded as cheap for bringing home that cheap stuff. Dude,

587
00:25:21,240 --> 00:25:23,600
Speaker 1: don't do it now. You'd rather be frugal. And you know,

588
00:25:23,600 --> 00:25:25,760
Speaker 1: that kind of leads us to talking about like quality

589
00:25:25,920 --> 00:25:30,200
Speaker 1: and guarantee of products. That's certainly consideration as well, especially

590
00:25:30,320 --> 00:25:32,800
Speaker 1: when you're looking at items that cost a bit more

591
00:25:33,119 --> 00:25:35,480
Speaker 1: than your standard grocery store purchases. You know, Like I'm

592
00:25:35,480 --> 00:25:38,160
Speaker 1: thinking of the fancy tool company snap On, where they

593
00:25:38,160 --> 00:25:40,960
Speaker 1: have like a lifetime warranty on their tools. You know,

594
00:25:41,119 --> 00:25:43,240
Speaker 1: I think they'll even come out with their truck uh

595
00:25:43,280 --> 00:25:45,679
Speaker 1: full of tools to to make replacements for you. But

596
00:25:45,880 --> 00:25:48,040
Speaker 1: that's something where you're gonna be paying more. You're paying

597
00:25:48,040 --> 00:25:50,280
Speaker 1: a premium for the products, but you're also getting an

598
00:25:50,320 --> 00:25:54,320
Speaker 1: amazing guarantee of just quality tools. I'm also thinking of

599
00:25:55,000 --> 00:25:58,240
Speaker 1: a clothier LLL being. They used to have their lifetime warranty,

600
00:25:58,320 --> 00:26:00,560
Speaker 1: but man, that's something that they discontinued a couple of

601
00:26:00,640 --> 00:26:05,320
Speaker 1: years ago, so good well last due to people abusing it. Yeah,

602
00:26:05,600 --> 00:26:07,360
Speaker 1: I'm not gonna accuse you, but no, no, it wasn't

603
00:26:07,400 --> 00:26:09,000
Speaker 1: mean I don't actually don't wear l L being but

604
00:26:09,040 --> 00:26:11,560
Speaker 1: I love that that they had that policy. Um, but

605
00:26:11,640 --> 00:26:14,040
Speaker 1: you know there's other outdoor companies as well, like Osprey.

606
00:26:14,440 --> 00:26:17,719
Speaker 1: They have guarantees on their backpacks for life. A good

607
00:26:17,760 --> 00:26:19,760
Speaker 1: buddy of mine, I know, he's worked with them before

608
00:26:20,119 --> 00:26:22,359
Speaker 1: to actually make a documentary about hiking the A Team,

609
00:26:22,480 --> 00:26:24,480
Speaker 1: but they were a sponsor and he was really happy

610
00:26:24,560 --> 00:26:26,960
Speaker 1: to have them on board because they had such an

611
00:26:26,960 --> 00:26:29,440
Speaker 1: amazing guarantee on on a lot of their equipment, specifically

612
00:26:29,480 --> 00:26:32,040
Speaker 1: their their backpacks. Yeah, of course, I think, especially when

613
00:26:32,040 --> 00:26:35,520
Speaker 1: it comes to clothing or outdoor products, name brands can

614
00:26:35,520 --> 00:26:37,399
Speaker 1: oftentimes have a huge leg up. I feel like in

615
00:26:37,400 --> 00:26:40,080
Speaker 1: the grocery store, it's a different conversation, but there are

616
00:26:40,080 --> 00:26:41,920
Speaker 1: lots of other areas of our lives where it does

617
00:26:42,000 --> 00:26:44,800
Speaker 1: make sense to buy something that is more expensive, in

618
00:26:44,840 --> 00:26:47,159
Speaker 1: particular to get something gets of higher quality. Matt. That

619
00:26:47,240 --> 00:26:49,919
Speaker 1: just reminds me of something that you and all my

620
00:26:49,960 --> 00:26:53,240
Speaker 1: other buddies made fun of me about. I bought in Atlanta,

621
00:26:53,320 --> 00:26:58,120
Speaker 1: United Jersey on eBay that was not legitimate. I guess

622
00:26:58,359 --> 00:27:01,119
Speaker 1: it was not legit. Yeah, colors were even off. That

623
00:27:01,200 --> 00:27:03,000
Speaker 1: was actually how you could tell is because it was

624
00:27:03,040 --> 00:27:04,280
Speaker 1: like it was a brighter red. It was like a

625
00:27:04,320 --> 00:27:07,159
Speaker 1: candy apple red versus like this rich dark red. Yeah, no,

626
00:27:07,240 --> 00:27:09,600
Speaker 1: it's pretty obvious. I think I got it for eighteen

627
00:27:09,680 --> 00:27:11,199
Speaker 1: or twenty bucks or something like that, and you know,

628
00:27:11,240 --> 00:27:14,680
Speaker 1: the the real thing costs more like sixty bucks, eighty

629
00:27:14,680 --> 00:27:17,399
Speaker 1: bucks whatever. And so yeah, that Christmas signed up asking

630
00:27:17,440 --> 00:27:20,880
Speaker 1: for the real thing from my parents from for saying

631
00:27:20,920 --> 00:27:22,960
Speaker 1: it brought it for you exactly. But that's one of

632
00:27:22,960 --> 00:27:25,520
Speaker 1: those things where it is worth it so much. So

633
00:27:25,600 --> 00:27:28,320
Speaker 1: many times that was a wasted twenty bucks for me

634
00:27:28,400 --> 00:27:30,439
Speaker 1: because I just never really wore that. Think again, not

635
00:27:30,480 --> 00:27:32,800
Speaker 1: because I was ashamed or I didn't want people to

636
00:27:32,840 --> 00:27:34,600
Speaker 1: make fun of me, but just because once I got it,

637
00:27:34,640 --> 00:27:36,800
Speaker 1: I was like, oh, yeah, this is not great quality.

638
00:27:36,840 --> 00:27:39,320
Speaker 1: It is cheap. It sucks. And so yeah, I think

639
00:27:39,359 --> 00:27:41,160
Speaker 1: that is something that we do need to take into

640
00:27:41,160 --> 00:27:45,000
Speaker 1: consideration and not just necessarily assume that something is higher quality,

641
00:27:45,200 --> 00:27:47,480
Speaker 1: but maybe do a little bit of research. Uh. That's

642
00:27:47,520 --> 00:27:49,359
Speaker 1: what is great about the Internet. You can do research

643
00:27:49,440 --> 00:27:51,800
Speaker 1: so easily and you can find out, well, okay, what

644
00:27:51,960 --> 00:27:54,480
Speaker 1: is the difference. Does this item actually provide a better

645
00:27:54,520 --> 00:27:56,919
Speaker 1: guarantee or higher quality? And if it does, then I

646
00:27:56,920 --> 00:27:58,840
Speaker 1: think it does make more sense in many cases to

647
00:27:58,840 --> 00:28:01,320
Speaker 1: spend more money and the name brand. Yeah, you know,

648
00:28:01,400 --> 00:28:03,240
Speaker 1: sometimes it makes sense to go with a name brand

649
00:28:03,280 --> 00:28:05,480
Speaker 1: because you are sticking with what you know. You know,

650
00:28:05,520 --> 00:28:08,000
Speaker 1: if you currently maybe have more money than you have time,

651
00:28:08,080 --> 00:28:10,280
Speaker 1: and sometimes it makes sense to stick with a product

652
00:28:10,720 --> 00:28:12,800
Speaker 1: that you know that will work for you. In this case,

653
00:28:12,840 --> 00:28:14,880
Speaker 1: it's not even a generic versus a name brand thing,

654
00:28:15,280 --> 00:28:17,639
Speaker 1: but like you're just paying for the ability to not

655
00:28:17,720 --> 00:28:20,679
Speaker 1: have to make another decision and even potentially having a

656
00:28:20,720 --> 00:28:23,600
Speaker 1: product that you're not happy with. An example I'm thinking

657
00:28:23,640 --> 00:28:25,520
Speaker 1: of is Kate and I we were this is several

658
00:28:25,600 --> 00:28:27,720
Speaker 1: years ago, but we were going to repaint our dining room,

659
00:28:28,000 --> 00:28:31,480
Speaker 1: and like, quality paint is expensive, specifically super paint from

660
00:28:31,480 --> 00:28:34,640
Speaker 1: Sherwin Williams. It can be pretty pretty pricey, even when

661
00:28:34,640 --> 00:28:36,720
Speaker 1: you wait to one of the four times every year

662
00:28:36,720 --> 00:28:40,800
Speaker 1: that they just kind of off sometimes those are those

663
00:28:40,800 --> 00:28:43,240
Speaker 1: are beautiful days. But even still, like that's some really

664
00:28:43,280 --> 00:28:45,680
Speaker 1: expensive paint if you get the higher end stuff. And

665
00:28:45,720 --> 00:28:48,000
Speaker 1: so Kate and I we talked about this for it's

666
00:28:48,040 --> 00:28:50,040
Speaker 1: way too long. We spent way too much talking about

667
00:28:50,320 --> 00:28:52,239
Speaker 1: whether we should stick with what we knew or if

668
00:28:52,280 --> 00:28:54,120
Speaker 1: we should go with like some of the more you know,

669
00:28:54,240 --> 00:28:58,040
Speaker 1: some of the more affordable kind of contractor lower grade paint,

670
00:28:58,320 --> 00:28:59,640
Speaker 1: and at the end we ended up going with the

671
00:28:59,720 --> 00:29:02,400
Speaker 1: with the cheper stuff, which ended up giving us crappier results,

672
00:29:02,400 --> 00:29:04,719
Speaker 1: and so we had to go back and put multiple

673
00:29:04,760 --> 00:29:06,320
Speaker 1: coats on it in order for it to stick well

674
00:29:06,440 --> 00:29:08,400
Speaker 1: enough there in that dining room. So I guess in

675
00:29:08,440 --> 00:29:10,640
Speaker 1: that case, that was an example where we knew that

676
00:29:10,680 --> 00:29:12,840
Speaker 1: super paint was really good stuff, and we knew that

677
00:29:12,880 --> 00:29:15,160
Speaker 1: like it went on really thick, it's stuck to whatever

678
00:29:15,240 --> 00:29:17,200
Speaker 1: you you know, you painted, And for us at least,

679
00:29:17,240 --> 00:29:19,640
Speaker 1: that was an example where we should have just stuck

680
00:29:19,680 --> 00:29:21,560
Speaker 1: with the tried and true. Yeah, and in particular in

681
00:29:21,600 --> 00:29:23,960
Speaker 1: regards to paint, I always think about the time that

682
00:29:24,000 --> 00:29:26,200
Speaker 1: it takes in order to do it, and if you

683
00:29:26,240 --> 00:29:28,600
Speaker 1: have to repaint after three or four years, as opposed

684
00:29:28,600 --> 00:29:31,440
Speaker 1: to it lasting ten years, definitely worth it to get

685
00:29:31,480 --> 00:29:32,960
Speaker 1: the name brand, right, Yeah, we're just the time that

686
00:29:33,000 --> 00:29:34,360
Speaker 1: it takes to put that second code on because that

687
00:29:34,400 --> 00:29:36,560
Speaker 1: first code didn't stick so well. Yeah, exactly, all right,

688
00:29:36,560 --> 00:29:39,280
Speaker 1: So let's talk about two name brands. Sometimes it makes

689
00:29:39,280 --> 00:29:41,680
Speaker 1: sense to get the name brands if they have a

690
00:29:41,720 --> 00:29:44,880
Speaker 1: specific value or mission that they are trying to accomplish

691
00:29:44,920 --> 00:29:47,640
Speaker 1: and you want to support that, right. Patagonia is always

692
00:29:47,760 --> 00:29:50,160
Speaker 1: an easy example here because they've pledged one percent of

693
00:29:50,200 --> 00:29:53,320
Speaker 1: their sales to the preservation and restoration of the natural environment.

694
00:29:53,320 --> 00:29:55,760
Speaker 1: But there are all sorts of companies now that do

695
00:29:55,880 --> 00:29:58,880
Speaker 1: similar things. Kota Paxi is another one that comes to mind.

696
00:29:59,080 --> 00:30:01,000
Speaker 1: They sell really great out to work gear stuff and

697
00:30:01,000 --> 00:30:02,760
Speaker 1: they've got a really cool mission too, and also I

698
00:30:02,800 --> 00:30:05,360
Speaker 1: just love the way they design stuff. But that's the

699
00:30:05,400 --> 00:30:07,880
Speaker 1: case for a lot of companies now, where they might

700
00:30:07,920 --> 00:30:10,560
Speaker 1: sell you something and then donate a similar item to

701
00:30:10,640 --> 00:30:12,840
Speaker 1: somebody in need. I think that's when it might be

702
00:30:12,880 --> 00:30:14,360
Speaker 1: worth it to get the name brand. It might be

703
00:30:14,360 --> 00:30:17,000
Speaker 1: worth it to pay more if you're supporting a mission,

704
00:30:17,160 --> 00:30:19,920
Speaker 1: you're not just spending more for no reason. And one

705
00:30:19,960 --> 00:30:22,360
Speaker 1: other instance where we feel that it makes sense to

706
00:30:22,360 --> 00:30:25,520
Speaker 1: to be able to buy name brands, it's just when

707
00:30:25,520 --> 00:30:28,040
Speaker 1: you love a specific product, where you love a specific company,

708
00:30:28,200 --> 00:30:31,280
Speaker 1: you know, like you don't necessarily have to have a reason, right,

709
00:30:31,440 --> 00:30:34,680
Speaker 1: why why it makes sense for you to support this company? Uh,

710
00:30:34,800 --> 00:30:36,760
Speaker 1: Sometimes you just go with a certain product because you

711
00:30:36,840 --> 00:30:38,960
Speaker 1: love it, you know. In our case, it's like craft

712
00:30:38,960 --> 00:30:41,320
Speaker 1: Beers is always the example that we give, but it

713
00:30:41,400 --> 00:30:43,600
Speaker 1: might be a completely random company that you just happen

714
00:30:43,680 --> 00:30:45,240
Speaker 1: to like, I guess I want to just put that

715
00:30:45,280 --> 00:30:47,200
Speaker 1: out there, because you don't have to necessarily have a

716
00:30:47,240 --> 00:30:51,240
Speaker 1: defense for buying a specific name brand as long as

717
00:30:51,320 --> 00:30:53,400
Speaker 1: you just don't allow that line of thinking to work

718
00:30:53,400 --> 00:30:55,560
Speaker 1: its way into everything that you buy. You know, you

719
00:30:55,560 --> 00:30:57,000
Speaker 1: can't say that like, well I really like this and

720
00:30:57,040 --> 00:30:58,800
Speaker 1: I really like this. It's like, well, you have to

721
00:30:58,840 --> 00:31:01,480
Speaker 1: pick and so make sure that you are spending your

722
00:31:01,480 --> 00:31:03,360
Speaker 1: money where it counts. Yeah. No, I think you're right.

723
00:31:03,360 --> 00:31:05,840
Speaker 1: I think sometimes it can be as simple as I

724
00:31:05,840 --> 00:31:08,040
Speaker 1: want to support small businesses and I'm willing to spend

725
00:31:08,040 --> 00:31:09,280
Speaker 1: more in order to do that, And I think that's

726
00:31:09,320 --> 00:31:10,880
Speaker 1: a great reason, Like it doesn't have to be one

727
00:31:10,880 --> 00:31:13,040
Speaker 1: of the other reasons that we mentioned, or even like

728
00:31:13,320 --> 00:31:15,720
Speaker 1: you don't even have to choose a small business because

729
00:31:15,720 --> 00:31:17,640
Speaker 1: it's a small business. You can just choose them because

730
00:31:17,640 --> 00:31:19,160
Speaker 1: you like them, you know, like like just like what

731
00:31:19,200 --> 00:31:22,680
Speaker 1: they're doing, like they're cool. Yeah. No, I I agree.

732
00:31:22,800 --> 00:31:25,600
Speaker 1: I think just being thoughtful about it and maybe running

733
00:31:25,640 --> 00:31:28,000
Speaker 1: through some of these filters can be helpful too. So

734
00:31:28,040 --> 00:31:29,960
Speaker 1: all right, let's talk about some tips for deciding I

735
00:31:30,000 --> 00:31:31,760
Speaker 1: would say, first, give it a shot as often as

736
00:31:31,800 --> 00:31:35,240
Speaker 1: you can right try the store brand equivalent, or test

737
00:31:35,360 --> 00:31:37,920
Speaker 1: something out, and specifically in situations where it's not going

738
00:31:37,960 --> 00:31:39,840
Speaker 1: to make that much of a difference. For instance, like

739
00:31:39,880 --> 00:31:42,520
Speaker 1: All the has this double guarantee on most of their items.

740
00:31:42,840 --> 00:31:45,040
Speaker 1: What do you have to lose by going with one

741
00:31:45,040 --> 00:31:46,720
Speaker 1: of the all the products versus one of the name

742
00:31:46,760 --> 00:31:48,560
Speaker 1: brands when you can take it back and get your

743
00:31:48,560 --> 00:31:50,480
Speaker 1: money back, you know it's just not that and will

744
00:31:50,520 --> 00:31:52,560
Speaker 1: replace it, and they'll replace it. Yeah, you don't not

745
00:31:52,600 --> 00:31:56,160
Speaker 1: only have nothing to lose, you just have everything to gain. Yeah.

746
00:31:56,160 --> 00:31:58,320
Speaker 1: So I think there's so many instances where people can

747
00:31:58,680 --> 00:32:01,480
Speaker 1: try out the store brand or the off brand or generic,

748
00:32:01,520 --> 00:32:03,680
Speaker 1: whatever it is, and really the biggest thing you have

749
00:32:03,760 --> 00:32:06,520
Speaker 1: to gain is a bunch of savings over years to come,

750
00:32:06,600 --> 00:32:08,320
Speaker 1: and the biggest thing you have to lose is that

751
00:32:08,520 --> 00:32:10,479
Speaker 1: one time purchase of something that you ended up not

752
00:32:10,600 --> 00:32:12,719
Speaker 1: liking and you're not gonna buy anymore. Yeah. So, if

753
00:32:12,760 --> 00:32:15,920
Speaker 1: you are trying to decide between generic versus a name brand,

754
00:32:16,000 --> 00:32:17,680
Speaker 1: you know you kind of mentioned this earlier, but look

755
00:32:17,760 --> 00:32:21,800
Speaker 1: to reviews, having lots of people kind of weigh in

756
00:32:21,880 --> 00:32:24,640
Speaker 1: on your decision, like that knowledge can help you to determine,

757
00:32:24,720 --> 00:32:27,160
Speaker 1: you know, if that generic brand is lame, you know

758
00:32:27,200 --> 00:32:30,040
Speaker 1: before you click by. This is where online reviews are great,

759
00:32:30,040 --> 00:32:32,640
Speaker 1: because I mean, oftentimes there are hundreds and even thousands

760
00:32:32,680 --> 00:32:35,400
Speaker 1: of people kind of weighing in and helping you to decide.

761
00:32:35,400 --> 00:32:37,080
Speaker 1: But you know, like on the other end of the

762
00:32:37,080 --> 00:32:38,880
Speaker 1: spectrum too, like sometimes it can just come from a

763
00:32:38,880 --> 00:32:42,280
Speaker 1: personal recommendation. If if there's someone who you know, you trust,

764
00:32:42,400 --> 00:32:44,040
Speaker 1: or or maybe they have a little more experience than

765
00:32:44,120 --> 00:32:46,320
Speaker 1: you do in a certain area, then by all means,

766
00:32:46,320 --> 00:32:47,840
Speaker 1: like I feel that can be an instance where you

767
00:32:47,840 --> 00:32:49,800
Speaker 1: look at somebody else. Yeah, Matt, Randomly, I was looking

768
00:32:49,840 --> 00:32:52,160
Speaker 1: for a bottle of tequila at Costco and I saw

769
00:32:52,280 --> 00:32:55,040
Speaker 1: lady with Costco again two bottles of it in her cart,

770
00:32:55,400 --> 00:32:57,760
Speaker 1: and I was like, hey, dang, two bottles. She's going big.

771
00:32:57,840 --> 00:32:59,959
Speaker 1: What's your take on that she had two bottles? I've

772
00:33:00,080 --> 00:33:03,720
Speaker 1: sleep you know, She's like, I just trying to the

773
00:33:03,760 --> 00:33:05,440
Speaker 1: other night for the first time. I'm into it, and

774
00:33:05,480 --> 00:33:07,640
Speaker 1: she didn't stare me wrong. So yeah, sometimes that individual

775
00:33:07,680 --> 00:33:11,000
Speaker 1: review can be helpful, but oftentimes the aggregate, larger amount

776
00:33:11,040 --> 00:33:12,920
Speaker 1: of reviews on a website or something like that can

777
00:33:13,000 --> 00:33:16,480
Speaker 1: really help us know whether it's smart to even give

778
00:33:17,120 --> 00:33:19,760
Speaker 1: an off brand or a generic a shot before we

779
00:33:19,920 --> 00:33:22,320
Speaker 1: buy it and sink our hard earned money into a purchase.

780
00:33:22,680 --> 00:33:24,240
Speaker 1: Totally man, And you know, we kind of just gave

781
00:33:24,280 --> 00:33:26,800
Speaker 1: this example with all the how they have that you know,

782
00:33:26,920 --> 00:33:30,240
Speaker 1: double guarantee, but when you know the return setus of

783
00:33:30,280 --> 00:33:31,960
Speaker 1: your purchase, that can give you a lot of confidence

784
00:33:32,000 --> 00:33:34,640
Speaker 1: as well when it comes to looking to, uh, you know,

785
00:33:34,680 --> 00:33:37,680
Speaker 1: a more generic brand instead of a name brand. For example,

786
00:33:37,680 --> 00:33:41,160
Speaker 1: ARII they have an incredible return policy, So checking out,

787
00:33:41,360 --> 00:33:43,600
Speaker 1: you know, one of the r I branded items, it's

788
00:33:43,600 --> 00:33:47,880
Speaker 1: gonna be less of a gable considering the satisfaction guaranteed

789
00:33:47,960 --> 00:33:50,640
Speaker 1: return policy. When the sticks are low like that, and

790
00:33:50,920 --> 00:33:53,080
Speaker 1: you can kind of mitigate any of the risk that

791
00:33:53,120 --> 00:33:55,360
Speaker 1: you might realize, it makes sense to try the generic

792
00:33:55,360 --> 00:33:57,720
Speaker 1: where you can potentially save money every single time you

793
00:33:57,760 --> 00:34:00,440
Speaker 1: were to buy that item in the future. Matt, I

794
00:34:00,480 --> 00:34:02,840
Speaker 1: mean we still in our family, we there are a

795
00:34:02,840 --> 00:34:05,000
Speaker 1: few name brand items that were fans of and we

796
00:34:05,080 --> 00:34:07,320
Speaker 1: stick to those and I think it's okay, right we

797
00:34:07,480 --> 00:34:10,360
Speaker 1: found a few things that we like better than the

798
00:34:10,400 --> 00:34:13,240
Speaker 1: store brand equivalent, but we try to be as flexible

799
00:34:13,239 --> 00:34:16,280
Speaker 1: as possible ultimately, and we try store brand or generic

800
00:34:16,400 --> 00:34:19,160
Speaker 1: equivalents as frequently as we can to see if there's

801
00:34:19,160 --> 00:34:21,080
Speaker 1: something better out there, and honestly, that's kind of our

802
00:34:21,120 --> 00:34:23,239
Speaker 1: default at this point, Like we typically go to the

803
00:34:23,280 --> 00:34:25,440
Speaker 1: store brand because we assume that it's going to be

804
00:34:25,480 --> 00:34:27,799
Speaker 1: just as good and cost less, and oftentimes we do

805
00:34:27,920 --> 00:34:30,000
Speaker 1: find that we like the store brand even more than

806
00:34:30,040 --> 00:34:32,319
Speaker 1: the name brand equivalent. But it's so helpful to do

807
00:34:32,320 --> 00:34:34,480
Speaker 1: our best to stretch ourselves to try things that we

808
00:34:34,560 --> 00:34:37,120
Speaker 1: might otherwise avoid for the sake of saving money on

809
00:34:37,160 --> 00:34:39,799
Speaker 1: groceries or in other areas of our life, because these

810
00:34:39,880 --> 00:34:41,839
Speaker 1: all have an impact on our budget and on those

811
00:34:41,880 --> 00:34:44,719
Speaker 1: recurring monthly expenses, and we all know that the more

812
00:34:44,800 --> 00:34:46,919
Speaker 1: that we spend on the recurring monthly expenses, the less

813
00:34:47,080 --> 00:34:49,120
Speaker 1: we have to save, the less we have to invest

814
00:34:49,160 --> 00:34:51,480
Speaker 1: in the future. And so yeah, that's why I think

815
00:34:51,760 --> 00:34:54,680
Speaker 1: store brands and generics are something that people should be

816
00:34:54,680 --> 00:34:57,759
Speaker 1: considering more frequently, and especially as they've just gotten better

817
00:34:57,800 --> 00:34:59,799
Speaker 1: and better over the years. I feel so much more

818
00:35:00,000 --> 00:35:02,560
Speaker 1: offinite today that I did, like five or ten years

819
00:35:02,560 --> 00:35:04,920
Speaker 1: ago picking up store brand items because of quality, I

820
00:35:04,920 --> 00:35:07,200
Speaker 1: feel like it's just elevated across the board. Yeah, man,

821
00:35:07,239 --> 00:35:10,399
Speaker 1: that's right. And so let's now stead of talking about

822
00:35:10,440 --> 00:35:12,840
Speaker 1: Generic's name brand, let's talk about our beer for this episode,

823
00:35:12,960 --> 00:35:16,040
Speaker 1: name brand beer. This is not a generic. This is

824
00:35:16,080 --> 00:35:18,880
Speaker 1: a real company that made his beer. Uh New Glaris

825
00:35:18,960 --> 00:35:21,200
Speaker 1: Brewing Company. They made it. And this one is called

826
00:35:21,280 --> 00:35:24,400
Speaker 1: Spotted Cow. This is out of Wisconsin. Joel, what were

827
00:35:24,400 --> 00:35:26,840
Speaker 1: your thoughts on this beer, Buddy, dude. Spotted Cow is

828
00:35:26,960 --> 00:35:30,400
Speaker 1: an institution in Wisconsin. You see a whole lot of

829
00:35:30,400 --> 00:35:32,040
Speaker 1: Miller Light when you go to Wisconsin, but you also

830
00:35:32,080 --> 00:35:35,000
Speaker 1: see a ton of Spotted Cow, and I feel like

831
00:35:35,040 --> 00:35:37,719
Speaker 1: it's a light beer that is is pretty clean, but

832
00:35:37,760 --> 00:35:39,800
Speaker 1: it's also got like a little bit of that funky

833
00:35:39,840 --> 00:35:42,200
Speaker 1: farmhouse going on, not over the top with it. It's

834
00:35:42,200 --> 00:35:44,600
Speaker 1: a lovely beer that I feel like almost anybody can enjoy.

835
00:35:44,880 --> 00:35:46,520
Speaker 1: It's not gonna be abrasive like a lot of the

836
00:35:46,560 --> 00:35:48,080
Speaker 1: I p as that we tend to drink on the show,

837
00:35:48,200 --> 00:35:50,560
Speaker 1: or a sour, but it's high quality at the same time.

838
00:35:50,560 --> 00:35:52,400
Speaker 1: So yeah, I like this beer. Yeah. I'm looking at

839
00:35:52,400 --> 00:35:54,400
Speaker 1: the bottle here and it says that it adheres to

840
00:35:54,600 --> 00:35:58,520
Speaker 1: the Ryan Heads Gabbat's purity law. Is that how you

841
00:35:58,560 --> 00:36:00,680
Speaker 1: say that is that the German purity all that means

842
00:36:00,719 --> 00:36:03,600
Speaker 1: you can only have four ingredients yeast, hops, water, and

843
00:36:03,760 --> 00:36:07,040
Speaker 1: malted barley. I would say, yes, those things are in

844
00:36:07,080 --> 00:36:09,600
Speaker 1: this beer, Like this is just a classic beer. It

845
00:36:09,640 --> 00:36:12,040
Speaker 1: makes me think like on the Simpsons, like they're always

846
00:36:12,080 --> 00:36:14,960
Speaker 1: drinking duffs. I feel like this is the equivalent to dust.

847
00:36:15,040 --> 00:36:16,560
Speaker 1: And that's not like an insult. It's just to say

848
00:36:16,600 --> 00:36:19,280
Speaker 1: that this is like a tried and true, timeless classic

849
00:36:19,360 --> 00:36:22,040
Speaker 1: beer to me. If someone's like, hey, what does that

850
00:36:22,080 --> 00:36:25,600
Speaker 1: taste like, I would just say tastes like beer. You know,

851
00:36:25,640 --> 00:36:28,920
Speaker 1: it tastes like a classic ale. I'm glad that you

852
00:36:29,000 --> 00:36:30,359
Speaker 1: and I got to share this one. I don't think

853
00:36:30,360 --> 00:36:32,799
Speaker 1: I've ever had this one before, and I'm thankful that

854
00:36:32,880 --> 00:36:35,320
Speaker 1: James that he or his friends at least brought some

855
00:36:35,440 --> 00:36:37,280
Speaker 1: back for us to have on the show Man. So James,

856
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Speaker 1: thank you. Yeah, thanks for sharing. All Right, Matt, that's

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Speaker 1: gonna do it for this episode. And for folks who

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Speaker 1: want to see the show notes for this show, just

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00:36:44,120 --> 00:36:46,640
Speaker 1: go to our website how to money dot com. And

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Speaker 1: for listeners who have not left us a review yet,

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Speaker 1: that would really help us to get the word out

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00:36:50,960 --> 00:36:53,240
Speaker 1: for folks who have not heard of our show before.

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00:36:53,600 --> 00:36:56,880
Speaker 1: The reviews really do help. And I'll issue a little challenge.

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Speaker 1: If there's a beer recommendation you have for us, head

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00:36:59,040 --> 00:37:01,600
Speaker 1: over to Apple Podcast, let us know that you've enjoyed

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00:37:01,600 --> 00:37:03,680
Speaker 1: the show and let us know what beer you enjoy.

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Speaker 1: Maybe that could be a fun little way for us

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Speaker 1: to discover some new breweries out there. Man, there you go.

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Speaker 1: It might break the Apple podcast review algorithm, to which

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Speaker 1: I'm totally fine with. Like, why are people talking about

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Speaker 1: beer here? This is personal finance? But little did they

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Speaker 1: know that we mix both of them together. Yeah, we

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Speaker 1: do so, buddy. That's gonna be it for this episode, Joel.

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Speaker 1: Until next time, best Friends are Out, Best Friends Out.