Buying brands could be costing you huge amounts of money over the year. People can be sticklers for buying their favourite brands even though many of the products are the same.
If you are trying to reduce your household budget here are some examples of how much you can save.
Coles Brand Bread
A standard loaf of Sunblest branded White Bread will cost you $3.29. Wonderwhite is even more expensive at $3.59. A loaf of Coles Smart Buy brand will cost you $1 and even their bakery bread is only $2. Say your family went through just one loaf of bread a week (most will go through a couple)on Coles Brand this would be a yearly cost of $52, Coles Bakery $104, Sunblest at $171.08 and Wonderwhite $186.88. That is as potential saving of over $100.
Coles Brand Milk
We only compared two brands of milk and kept it at full cream. Dairy farmers will cost you $1.50 per litre and Coles will cost $1.00 per Litre. It is hard to know how much milk a household goes through in a year. If we base it on the healthy pyramid on the nutrition Australia website we should be having 3 servings of dairy foods each day. Since this includes cheese and yoghurt lets take the minimum and say one person has 250ml (one serve) per day of milk. Per year for Coles brand you would therefore pay $91.25 vs $136.88 for Dairy Farmers. That is a saving of around $45 per person let alone if you have an average of 4 people in your household.
Coles Cleaning Products
Per hundred mL Ajax will cost $0.79, Pine O Cleen will cost $0.77 and Coles Smart Buy will only cost you $0.25. So a standard 500ml bottle of Ajax is $3.95, Pine O Cleen $3.85 and Coles $1.25. If you go through one bottle a month this is a yearly cost of $47.40 for using Ajax, $46.20 for Pine O Cleen and at a third of the price only $15 for Coles.
Coles Cling Wrap and Aluminium Foil
If you are like me you probably just grab Glad Wrap or Multilex aluminium foil from the shelves but this comes at twice the price. A thirty metre roll of Coles brand Cling Wrap cost $1.05 vs $2.99 for Glad Wrap. For aluminium foil a 30 metre roll of Coles Smart Buy will cost $3.00 vs $6.00 for Mulitlex. If you went through a roll of each every 2 months Coles will cost you $24.30 vs $53.94 for the brands.
I only buy free range eggs which will cost you more than the caged eggs. For a 12 pack of 700gram free range eggs, Coles brand cost $4.00. Pacefarm will cost you $6.40 and The Manning Valley will cost $6.00. If you went through a carton of eggs per week for a year this will cost you $209 for Coles, $332.80 for Pace Farm and $312 for Manning Valley. That is over one hundred dollars more expensive.
Coles Brand Pasta and Rice
Our family eats a lot of pasta and rice. You can save a lot of money just by buying the Coles brand for $1 a packet. Per 100 gram the Coles pasta is $0.20 compared to San Remo brand of $0.40 and Barilla at $0.46. If you went through two packets of 500 gram pasta a week this equates to $104 for Coles, $208 for San Remo and $239.20 for Barilla. Coles Smart Buy rice (white long grain) will cost $0.17 per 100 grams, whilst Sunrice cost $0.33. If you went through the same amount as pasta this will be a yearly cost of $88.40 vs $171.60 for the dominant supermarket brand.
Muesli Bars were a favourite for my lunch box at school. An 8 packet of Coles Smart Buy Brand muesli bars will cost $1.89 and Uncle Toby’s cost $3.99. If you had two kids you would probably go through a packet a week. This is a yearly cost of $98.28 for Coles Smart Buy vs $207.48 for Uncle Toby’s.
Add up the savings – how much money could you save?
If we add up the yearly amounts for these few items you can see a massive savings (where there two brand items I calculated using the cheaper one). Shopping with Coles brand based on the above generous usage amounts added up to $682.23. The brand items added up to $1307.18. That is a whopping difference of $624.95. And that is only with 9 different products.
That money could be better used in a high interest savings account, like UBank or similar to grow. Perhaps it could help you save towards your next holiday or something else a bit more special than a brand name product?