I have found the store-brand shredded cheese (chedder, mozzerella) is just as good as the brand-name version and costs far less. Also, my kids prefer Shoprite's low-fat pudding cups to the more expensive Swiss-Miss brand.
I've taken generic to another level. I have found great substitutes for expensive products. For example, white vinegar mixed with an equal amount of water makes an excellent window and counter cleaner. It costs nothing compared to Windex or Lysol cleaners and it is perfectly safe for the environment. Full strength vinegar is effective at cleaning mildew stains.