pwfm Men & Money

The Need to Save Money Is Motivating More People to Haggle

We’ve talked before about how the economic downturn has revived our “inner haggler.” Basically, the need to save money these days has motivated more people to try negotiating a lower price - everywhere they go. According to Consumer Reports, new evidence shows that all this haggling is actually working! In fact, a new survey found that 90% of people who’ve tried to get a better deal in recent months actually got one. We’re not just talking about people buying big-ticket items – like cars, furniture or high-end electronics. More people are discovering they can haggle for less obvious things – like appliances, medical bills, or even their cable bill. In fact, experts say it’s a good idea for everyone to re-evaluate their basic monthly services – including credit cards, utilities, cable and cell phone plans. There’s a pretty good chance you can find a new service, or a more competitive rate, that wasn’t available when you first signed up. So call each company and say something like this: “I’m a good customer, and I see that you’re offering a better cell phone plan than I have. What can you do for me?” In most cases, operators are now authorized to offer you a lower rate, or free incentives, to help keep you as a customer.

Unfortunately, many people feel uncomfortable or self-conscious about trying to negotiate a better deal. They convince themselves that they’re somehow not good enough to haggle – or they don’t deserve a price break. These days most businesses expect you to haggle, and those who do try it often save hundreds of dollars. The key is to do a little research before you buy. Check prices online, so you’ll recognize a good deal when you see it. That’ll give you something to start bargaining with. If a salesperson won’t budge on the price, try haggling for other things – like free installation, or a longer warranty.

Still, the bottom line to haggling is simple: If you don’t at least ask, then you’re never going to get a bargain.