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Special thanks to David Bakke for providing this guest post in honor of Financial Literacy Month. David writes for Money Crashers, one of the top personal finance blogs online. His strengths include money management, smart shopping, budgeting, and finding the best deals possible.
I'm a frugal fanatic, and saving a buck on day-to-day items like groceries and bigger purchases like electronics is basically second nature to me. I take the rule of spending on "needs" but not "wants" to a new extreme. But when it comes to major expenses and long-term purchases, it's tough to feel frugal in the face of high price tags. It's a completely different side of the savings game: The art of negotiation. I was surprised to learn how much room for negotiation many sellers have, and if you don't know when to ask for a discount, you could be losing thousands of dollars. Here are seven types of expenses you should always negotiate down on.
Final Thoughts The more I shop and negotiate, the more the lesson rings true: There's no harm in asking. As a consumer, you have more power than you might think. While salespeople may seem rude or abrasive in some situations, you're really in control until you hand over your money. Clerks want their commissions, and stores want to make their sales. Especially now, while businesses are struggling, managers are willing to give up some profit to complete an order. Take advantage of this situation. There's no shame in asking for a discount, and there's nothing embarrassing about walking away. You have other stores to try, both online and off, so don't be afraid to walk away from a deal if you don't like the final price. Play the competition to your advantage.
What other expenses have you negotiated? Share your success stories and biggest victories as a consumer in the comments here.
Of all the major purchases people make in their lives, few are more based on emotion than buying a car.
While I am all for helping the economy and the environment, the awesome thing about a clunker is that is (hopefully!) paid for in full. If you are one of the more than six hundred thousand who got cash for your clunker, you are the proud owner of a new car… and possibly some new debt.
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