At some point in everyone’s life, they go down the vitamin route – whether because they have a restrictive diet and need additional supplements, have been instructed by their doctor, or, as in my case, because friends have suggested I take certain vitamins and supplements to help reduce the “symptoms” of this middle-aged stage of womanhood.

Fast forward to this morning: as I looked at the six capsules in my hand, I wondered whether any of it truly made sense. Do vitamins really work, or is it just another industry trying to convince us – or even brainwash us – into believing we’re missing something essential to our wellbeing, and that the solution to bridging that gap is to buy vitamins?

Let’s face it – vitamins are not cheap. I take three types of vitamins – two capsules daily – and need to buy a bottle of each once a month. With the average price being $17 per bottle, that adds up to $51 per month on vitamins. It just doesn’t seem right, does it?

Still, like many others, I’ve found myself caught in the phase of “continuance”: wondering whether they’re actually working, yet not willing to stop taking them in case they are. I don’t know about you, but I see a problem with that.

In 2024, Arianna Johnson published an article in Forbes magazine titled “Daily multivitamin use in healthy adults doesn’t decrease risk of death, study suggests: what to know about pros and cons of multivitamins”.

The article made two particularly impactful statements:

• “’Refocusing nutrition interventions on food, rather than supplements, may provide the mortality benefits that multivitamins cannot deliver,’ researchers with the National Cancer Institute wrote as part of a commentary on the JAMA study. ‘Vegetables, fruits, legumes and cereal grains are staples in areas of remarkable longevity.’”

• “$177.5 billion. That’s how much the global dietary supplement industry was worth in 2023, according to market research firm Grand View Research. This number is expected to grow by 9 per cent between 2024 and 2030.’

If you have the time, the Forbes article is worth the read – but it brings me back to my original line of thinking: is the vitamin industry more about profit than health and wellbeing? And why wouldn’t we simply eat more healthily to get the vitamins we need from our food instead?

Just to be clear, I’m not advising against taking vitamins – especially if your doctor has recommended them. However, it’s important to recognise that many of us tend to self-diagnose and pay the money to buy vitamins believing that they will help, without applying the age-old principle of eating a balanced diet.

In my case, although it’s $51 per month in vitamins, that adds up over time – and spending money on something I’m not entirely sure is even working does not seem financially sensible. But how many other people do the same thing? The answer is: a lot.

What’s even more interesting is that this kind of behaviour can be explained through the field of behavioural economics, which combines insights from psychology and economics to explore how people make decisions.

Traditional economic theories often assume that individuals are perfectly rational, always making choices that maximise their utility. However, real-world behaviour frequently deviates from these assumptions, influenced by cognitive biases, emotions, social factors, and more.

Now applying this back to the vitamins and their cost – if you know me, you will know I am always looking for the lowest-priced option. If I can save $2 by choosing one brand over another, I will do it – assuming the label on the back shows the same ingredients and levels. But not everyone thinks that way.

Many people find branded vitamins more trustworthy because the names are familiar and they have undergone rigorous testing to meet regulations.

These products may also feature advanced formulas, extra ingredients, or unique delivery methods – all of which appeal to health-conscious buyers looking for particular benefits.

However, on the other side of the coin, generic vitamins are produced by companies that follow the same regulations as major brands but may not be as well known or have large marketing budgets – and they are usually less expensive for the consumer.

Research suggests that the main difference lies in branding and marketing, not in the actual ingredients, as generics often contain the same amounts of vitamins and minerals as branded ones.

Agencies like the US Food and Drug Administration ensure that both generic and branded supplements meet safety and effectiveness standards, guaranteeing that generics are just as reliable.

So given all this information – I am healthy, I eat a balanced diet – why am I spending $51 per month on vitamins I cannot even prove are working? Would it not make more sense to look at what I actually feel is missing and identify what additional nutrition I could include in my diet to bridge that perceived dietary gap?

Let’s face it: eating a balanced diet is essential for optimal health and wellbeing. It means consuming a variety of foods that provide the necessary nutrients – vitamins, minerals, proteins, carbohydrates, and healthy fats. Including fruits, vegetables, whole grains, lean proteins, and dairy helps ensure your body receives adequate nutrition. A balanced diet supports immune function, boosts energy levels, and promotes healthy growth and development.

So, would it not make better financial sense to reallocate the $51 I currently spend on vitamins to my grocery budget – to make more mindful food choices, maximise nutrient intake, improve my overall health, and enhance my quality of life?

References

Johnson, A. (2024) Daily Multivitamin Use in Healthy Adults Doesn’t Decrease Risk of Death, Study Suggests: What to Know About Pros and Cons of Multivitamins. Available from: https://www.forbes.com/sites/ariannajohnson/2024/06/26/daily-multivitamin-use-in-healthy-adults-doesnt-decrease-risk-of-death-study-suggests-what-to-know-about-pros-and-cons-of-multivitamins/ [Accessed 9 May 2025].

• Carla Seely has 25 years of experience in the international financial services, wealth management and insurance industries. During her career, she has obtained several investment licences through the Canadian Securities Institute. She holds the ACSI certification through the Chartered Institute for Securities and Investments (UK), the QAFP designation through FP Canada, and the AINS designation through The Institutes. She also holds a master’s degree in business and management