Not only can you survive during these tough economic times – you can thrive. The key is to JUST SAY NO to certain things. Here are the details from Netscape .com’s financial correspondent, Terence Channon:
- Don’t pay retail for big-ticket items. You’ve heard the saying “Everything is negotiable.” Well, that’s true for more than just houses and cars. You can negotiate on appliances and electronics, too. Retailers are eager to move inventory and keep business flowing, which means they’re more flexible with the price tag on almost any item. We’ve had a lot of listeners calling us saying that they asked for a discount and got it.
- Say “no” to high interest rates on credit cards. If you’re paying sky high rates, ask for a reduction. If your polite inquiry doesn’t work, tell them they’re forcing you to take your business elsewhere. If your credit’s still good, try to transfer your balance to a lower-rate credit card. If your credit rating has taken a hit, credit counseling might be able to help you get your rates down to more manageable levels.
- Administrative fees. When things are going great, the small charges that show up on your bank statements, phone bill, and credit card statements are usually no big deal, but now, every dollar counts - and those fees can add up. So, take a minute to call your bank to ask them to reverse fees, even if they are your fault. Many offer a once-a-year fee removal. If you’re transferring a balance or getting a loan, pay attention to the hidden fees. In this market, merchants are willing to wave these charges to make sure they get your business.
Bottom line? It’s wise to negotiate prices and fees. Yes, it takes a little effort, but when the savings start piling up, you’ll see that it’s worth it.