Dealing With Lost or Reduced Income

In the current economic environment, with the quoted unemployment rate above 10% and the real unemployment rate closer to 18%, more and more people have either lost their total household income, their spouse’s income or had their income cut down due to reduced hours.

At the same time that income is dropping, expenses either stay the same, or may even increase due to things such as a child heading off to college, unforeseen medical expenses or the need to help a parent as they age.

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Supermarket Shopping: Generics Versus “Name” Brands

The question of whether or not it is worth saving the money buying pure generic products at the supermarket or paying more to buy the “name” brands is one that we all struggle with. Still another option is to purchase the store brand, whose price will typically fall somewhere between the other two. What is the answer?

In my house, the responsibility for going to the supermarket falls on my shoulders (my wife gets the laundry), and from growing up the way that I did my bias will typically push me towards the pure generic names. I started slowly by buying the store brands, and then moved to many of the pure generics when I saw the potential savings to my bottom line. On average I will buy some of each type, but the savings are very real.

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