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Money Management

The Art and Practice of Negotiating


You’ll be surprised how much you can save.

In a modern economy like ours, most prices are fixed and non-negotiable. Unlike in the past where you could haggle for goods, today it’s not common to negotiate at places like grocery stores. However, negotiating isn’t a lost skill, you just need to be more strategic about when and where you apply it.

Negotiating typically comes into play when dealing with significant one-time payments or establishing recurring expenses. For instance, when you’re signing up for a cable TV package, the provider might have set packages with fixed prices. However, if you can communicate well and show interest, they might be flexible, especially if they face competition in the market. By talking to a representative and discussing your needs, you may discover options not usually advertised.

A similar approach can be taken for substantial purchases such as booking hotel rooms. During non-peak times, you can try to discuss a discount with the hotel for your stay. Businesses are more open to bargaining when they have empty rooms to fill, so it’s worth a shot. Just ensure your negotiation is reasonable, usually within a $50 range.

One important thing to remember is that not all customer service representatives can assist with negotiating. Nevertheless, it’s crucial to be polite and considerate when interacting with them, as customer service jobs can be stressful.

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