mortgage rate

A lot of people become nervous when it comes to talking about money, sometimes to the point of avoiding any and all conversations that revolve around money. But there are certain times when it’s necessary to talk about money, especially when it relates to negotiating for a better deal or rate on a service or product. But not everyone knows when they should and shouldn’t negotiate, so here are a few different items you should always try to discuss in order to better your financial situation:

Negotiating Salary

There are a lot of mixed messages about negotiating salary amounts at a job. Some financial advisors or job coaches recommend it while others advise against it. However, trying to negotiate for a higher salary or a yearly raise is something you should at least attempt. There are several ways to negotiate for a higher salary or a yearly raise.

Negotiate Work Benefits

If negotiating for a higher salary or raise isn’t an option, you should consider negotiating for better benefits instead. Benefits and compensation packages can include anything from better healthcare coverage to free memberships at gyms or clubs. You may even ask for more paid vacation time or find out that you have discounts on certain products or businesses. Benefits and compensation packages usually account for 30% of an employee’s wage, after all.

Haggle Car Price

Haggling over the price of a new or used car is nothing new, but you may be surprised by how many people are reluctant to negotiate the sales price. Sometimes haggling over the price of a new car can work out in your favor. When it comes to used cars, it’s always best to try and lower the sales price. People often try and sell their cars for more than they are truly worth, so it’s in your best interest to try and negotiate down to a lower price.

Mortgage Rate Haggling

Mortgage rates are another area where you should attempt to negotiate prices. Before you decide on a mortgage, you should shop around and make sure you know what each lender has to offer. There are a lot of associated costs and fees with a mortgage and it’s important to talk to your lender or broker and see if you can negotiate to a lower price or waive the fees entirely. The Federal Trade Commission provides some tips on negotiating mortgage terms, loans, and fees here.

Rent Payment Negotiation

If you rent an apartment or house instead of own, think about trying to negotiate your monthly or yearly rent or any associated costs. If you’re a good tenant who has stayed in the same place for awhile and always paid on time, you may be able to negotiate a deal where your rent isn’t raised. Or, you may be able to negotiate a deal where your landlord covers utilities as part of the rent instead of making you pay for them separately.

Haggling Cable and Internet Fees

Negotiating for lower cable and internet fees and charges is perhaps one of the easiest deals to make, but one people rarely take advantage of. You can often haggle for lower prices if you mention better competitor prices or threaten to cancel your membership. Additionally, some cable and internet companies like to tack on fees in the hopes that no one peruses their bill carefully enough to notice.

Membership Price Negotiation

Sometimes it can be pretty easy to negotiate a lower subscription or membership price, whether it’s for a yearly paper or magazine subscription or a club membership. These businesses are often eager to get new customers and negotiating a lower fee could be as simple as telling them about cheaper competitor rates or threatening to cancel your membership.

Photo: Flickr: GotCredit