Are you getting value for your money? - 1/30/2022
Updated: Jul 29, 2022
You get what you pay for, but what are you paying for? Is it the product or the name?
Did you know most store brand products are made by name brand companies? Same factory, same ingredients, same recipe.
The same goes for appliances, computers, and even cars. Slapping a different label and price on the same item is referred to as "badge engineering". This means 2 different items which are essentially the same might have very different prices.
Is it worth the extra money?
Sometimes it is. There might be a slight difference, for example in spaghetti sauces the name brand might offer different flavors and the store brand might be more basic. In cars it might be different trim packages or color options.
Other times it's not worth the extra money, either option would cover your needs and you wouldn't notice the difference for the extra money.
The price might be just a little different or a lot different. If you are particular about your ketchup, you would want to know which brand name prepared the store brand. If you shop at different stores, it might make sense to always buy the brand name because ketchup is really important to you.
You get to decide what is important to you. Make intentional decisions about how you spend your money. Whether you are tight on money or not, you should be aware of what you are spending your money on.
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