pwfm Men & Money

Phrases That Can Help You Save Money Want to save money? Here are a few key phrases to help you save at hotels, car rental agencies, and stores that sell furniture, electronics, jewelry, appliances, and antiques. These come from Family Circle magazine and Michael Soon Lee, coauthor of Black Belt Negotiating: “Can you do any better on the price?” You want the seller to make the first offer because if you start the negotiation, the price can only go up from there. If you have to make the first move, start 20% below the price you want to pay, so you still have room to maneuver. Chat up the salesperson a while before you attempt to negotiate. They’ll be more likely to make a deal if they’re already invested time in you. “It’s nice, but I can take it or leave it.”Never let a salesperson know you’ve fallen in love with something, or they’ll assume you won’t leave without it, price break or not. Be prepared to walk away if they won’t drop the price. Chances are, they’ll stop you and make an offer. “I’ve seen this somewhere else for less. Can you do better?” A lot of stores will beat a competitor’s price if you show them a local newspaper ad, or a printout from an online store. However, be prepared for them to explain that their merchandise is higher quality, or they have better customer service, and ask whether there are any markdowns or special promotions coming up in a week or two. They may be willing to give you the lower price now rather than hope you’ll come back. “What would you take if I paid cash?” Processing a credit card costs retailers about 3% of the transaction and checks take time to clear. So, they might be willing to deal to get the cash in hand. Okay - but what if you hate to haggle? Get over it! Experts say that sellers get asked for discounts all the time. It’s a normal part of doing business and haggling is win-win for both parties. After all, most retailers would rather sell today for less, than wonder if it’ll sell at all. Also, asking for a markdown doesn’t make you look cheap – it simply shows that you’re savvy about how you spend your money.