What do you associate with the word “generic?” Do the words “inferior” or “tastes like cardboard” come to mind? Or do you, like many people, associate name brands with people who are well-to-do, while people in poverty opt for generics? All of that is complete nonsense, but commonly held attitudes. The truth is that generics are often a great buy because the quality of the product is exactly equal to, or sometimes even better than, the name brand counterpart. Here are six winners: Cereal You really can stop paying $4 a box for cereal because excellent generic options are typically 30 percent cheaper. In several blind test studies, kids who were given name-brand and generic cereals couldn’t tell a difference. If your kids are picky about their favorite cereal, try combining the name brand and the generic brand in a plastic container so they don’t see the packaging. Gradually move …