Why are youths so brand-loyal? I remember when I wanted to get a new phone some months ago. I was stuck between my love for the iPhone, and any other phone. It got to a point we had a big debate in my unit.
Social media plays a crazy part in this, since it can be fun to tag and share items you buy or places you go. But all that loyalty could be costing you money (imagine me considering buying a phone worth 360k. *in my mum’s voice* Owo Ile!)
While you may have good reasons – quality, for instance – for choosing certain brand name items, there are tons of other items for which you could choose generic name brands and save money without compromising on quality.
It’s an open secret that generic “private label” or store brands are sometimes made by the same companies turning out branded products. I remember when a picture of Femi Otedola surfaced sometime last year and everyone picked out his palasa Nokia phone. Ah, a whole oga like him. He definitely could afford a phone of 1 million, but he decided a small one wasn’t bad.
Identify what’s important to you and what you’re willing to sacrifice, then buy known brand names for the stuff you care about; go generic for everything else.
Have you realised that when you are broke you can do without some branded names? Let’s get real, guys. When you go broke you reduce the amount of airtime you buy, you don’t go to that fancy restaurant that you love, you end up not traveling to Dubai but find fun in Lagos or an Africa country.
If in your low you can do away with your brand names, why can’t you cut down on these brands when you are on your high? Cutting down will help you save extra cash.
What brands can you do without?