Compare a 14-ounce box of brand-name Cheerios, which sells for $4.69 at FreshDirect.com, to a generic box of similar breakfast cereal which sells for less than $3 at local grocery stores. Which do you buy? More than two-thirds of Americans are choosing the latter. Buying generic is the most popular way to save money these days.
A new Harris poll shows the top ways consumers are cutting back on everyday expenses. Of those polled, 67% said they are buying more generic to save money, up from 61% just last February. Brown-bagging lunch is the second most popular way to save. Nearly half of those surveyed said they brought their midday meal from home instead of purchasing it.
Are braids and long, natural hair another economic indicator? They may well be. Ranking third, 43% of Americans said they are going to the hairdresser less often as a way to be frugal.
Gallery: Top 12 Ways Americans Are Cutting Everyday Spending
Top 12 Ways Americans Are Cutting Their Spending