There is good news about the current economy: it’s a buyers market in more ways than just housing. Learning to negotiate can be as simple as asking: “Is this your best price?” Here are some ways to become “the negotiator!”
- Negotiate — It’s a buyer’s market, so feel free to negotiate on just about everything! You can even negotiate spa services (manicures, pedicures, massages, haircuts &color) by asking your service provider if they offer quantity discounts (buy 4, get one free). Service industries are hard hit and you don’t have eliminate these services or pay more to keep yourself pampered in style.
- Renegotiate – Even if you have secured a particular rate for your vacation destination, don’t be afraid to renegotiate the price. One client of mine, who subscribed to http://www.travelzoo.com/ in order to get the latest sales notices, found that his Bahama resort was advertising a new sale. Even though he and his wife had already booked the trip (and the reservation) for their anniversary, he called the resort, quoted the sale price and got the discount! He saved $1800 with one phone call by renegotiating!
- Prenegotiate — Two months before your tenant lease is renewed, ask your landlord if your current rent is “the best they can do” as you are concerned with the current economy and really need a lower rent. You’d like to stay where you are, and if they could renegotiate for a lower price on the lease, then you won’t have to look elsewhere. You’ll be surprised at how most landlords would rather renegotiate than lose their tenants!
America’s Family Financial Expert (R)