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Personal Finance Round-up: 5 Secrets to Getting a Better Price on Anything

By Money Crashers

getting a dealAre you a born negotiator, or do you shy away from trying to haggle prices down? If it’s the latter, take a look at this article from The Dollar Stretcher, which gives some great tips on how to use the art of negotiation to get a better deal for yourself. There are some examples that I didn’t previously think would be open to negotiation. For example, who knew that tuition costs could be negotiated in the right context? Take the plunge, and you might just get what you’re asking for!

Here are some great posts from the personal finance blogging community that you might have not have seen:

FINANCIAL IQ TEST: How Healthy Is Your Health Care Plan? You might think that your health care plan ticks all the right boxes, but is this really the case? Take this financial IQ test to get the lowdown on how your health care plan really measures up. [Wisebread]

Should You Get Low Cost Life Insurance? This post makes a good comparison of low cost life insurance versus commission based life insurance policies to help you decide which might suit you best.  [The Digerati Life]

What Happens if You File Your Bankruptcy? How does filing for bankruptcy affect your credit score and your possessions? Find out by reading this post. [Good Financial Cents]

How to Establish Credit After Bankruptcy. A bankruptcy hits your credit score hard but there is some good news. Despite the inevitable damage, you can start to repair your financial situation if you use some of the tips outlined in this post. [Doughroller]

Do You Get What You Pay For? You expect to get good quality for your money when you buy something that’s relatively expensive, but this post draws attention to the fact that splashing the cash doesn’t always mean that you get a superior product or service. [Get Rich Slowly]

8 Effective Ways to Raise Frugal Kids. Want your kids to grow up knowing the value of frugality? Take some tips from this post. [Man Vs. Debt]

What Happens When a Bank Fails? What can you expect to happen if your bank were to suddenly fail? This post is worth filing away for future reference in case this situation unexpectedly arises.   [Moolanomy]

What Owning a Small Business Can Do For Your Personal Finances. People often think that setting up a small business will make their money situation extremely complicated, but there can be some definite financial advantages. This post discusses just a few of them.  [Money Ning]

2010 Financial Planning Genius: Request for Nominations Adam Williams over at Rabbit Funds is looking for the financial planning genius of 2010 and is asking for your nominations. What exactly defines a genius? “A genius is someone who is not a system but does something that wasn’t written down and solves a problem.” If you nominate the winner, you’ll get $25. Check it out.

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(photo credit: maveric2003)

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  • http://fundtips.blogspot.com/ Daddy Paul

    My father really enjoyed negotiation. Seems he picked it up from his father who grew up in a culture where haggling over the price is still the norm. It must run in the genes because my son does it as well. You often pay what you negotiate for. I want to thank you for the idea for my next blog.

  • http://madsaver.com Mac

    I’ve never been comfortable negotiating retail prices, but that hasn’t stopped me from trying. Last year we haggled down a mattress for our son who was stepping up from his crib. We were split between two mattresses from two different retail stores. We decided to go with store A’s quote, but soon after canceled. That store offered us a lower price, we still said no. The next day I got another call with a cut-rate price. We took it. Goes to show that when some of these retailers get a nibble, they will do anything to bring in the catch.

  • http://barbarafriedbergpersonalfinance.com Barb

    I LOVE TO NEGOTIATE and I loved this piece. I think its reallly important to get out the word on negotiating!!! Anyone can do it-have no fear! I’ve negotiated a 40% reduction in price on a comfortor in a department store & a a 60% reduction in a car repair!
    Great publicity of an important concept

    • http://madsaver.com Mac

      You’re a brave one to negotiate car repair. I find it hard to trust a lot of car mechanics out there as I know little about cars. I’d fear that I may be able to knock the price down on a repair, but they’d “forget” to do some important maintenance that I thought I paid for. Guess I just need to find a trustworthy shop…my experience overall has been poor.

    • Winston

      I have noticed that it is a lot easier to negotiate with Chinese vendors than American. My parents have tried to negotiate prices with American retailers, but most of the time they are unsuccessful. However, it is a total different ball game when they buy stuff from Chinese retailers. About 95% of the time, they get huge discounts after some negotiations.

      Unfortunately, I am not much of a negotiator because I hate confrontations.

  • gina

    Nice round up of articles. I think that these days most establishments are willing to negotiate on almost anything! It is really a good time to be a consumer.

  • Karmella

    I really don’t like negotiation – so it’s good for me to see as many encouraging articles as I can…

  • http://www.thedigeratilife.com The Digerati Life

    I love haggling. But it depends on the circumstances. When I try to sell off my stuff through Craigslist, that’s when I participate in some negotiations. Thanks to my grandmother who gave me the genes and from whom I learned some of these skills!

  • Winston

    Great links. A lot of them are very intriguing. I love the piece about the correlation between price and quality. Before this, I always assumed that brand-name medicines are so much better than the generic brands, hence the higher prices. Next time when I buy cold medicines, I will check out the cheaper ones to see if they are as effective as the brand ones.

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