Placeholder Content Image

The top 11 situations to always haggle for a lower price

<p><strong>Mortgage rates</strong></p> <p>Buying a new home is probably the biggest purchase you will make over the course of your life, so every last penny you can save is worth it. “Borrowers should shop their business around to many banks/lenders to see what rates are available,” says mortgage broker Ade Labinjo. “Then use the rates obtained to pit the banks against each other for the purpose of either matching or driving down the rates they were quoted.” </p> <p>Labinjo says that by getting at least one extra quote rate, the average borrower could save up to $1,500. Never settle for the initial quote rate that the bank offers you – haggle for a better price because chances are, they’re not giving you their absolute best offer upfront.</p> <p><strong>Flea markets, farmers markets, garage sales</strong></p> <p>At flea markets, farmers markets, and garage sales the sellers typically set their own price. If you know how to haggle, this is a great opportunity to get a really good deal. Also, see if buying in bulk or large quantities can get you a price reduction.</p> <p><strong>Hotel rooms</strong></p> <p>Hotels want their rooms filled, so it never hurts to haggle with the people at the front desk for a better price or room upgrades. “Hotels have to pay a commission to booking websites, and pass on some of that as a benefit to the user,” says Saurabh Jindal, founder of Talk Travel. </p> <p>If you find that the price is the same on the booking website and the hotel’s website, ask the hotel for a room with a better view or more amenities. “Hotels have rooms allocated to various booking platforms and may give you a better option which has not yet been sold.”</p> <p><strong>Memberships</strong></p> <p>Memberships always come along with extra fees. It might be a renewal fee, startup fee, or a maintenance fee if it’s your gym membership. Ask if they can waive some of the fees or threaten to cancel and go somewhere else. They want to keep making money off of you and might just give you a discount.</p> <p><strong>Lease renewal </strong></p> <p>If you’re considering re-signing your lease, know that it is most likely more expensive for the landlord to prepare your apartment for a new tenant than to lease to you for another year. If you’ve had a good relationship with your landlord, try to negotiate in a deal before you re-sign. If the landlord is going to increase your rent, ask if you can increase it by less or not at all. If you consistently pay rent on time, are a respectful neighbour, and take good care of your apartment they may keep your rent from increasing.</p> <p>It’s important to remember who your lease is with though, says Julie Ramhold, Consumer Expert at DealNews.com. If your apartment is owned by a management company, they probably won’t offer any wiggle room. But, if you’re renting from a single landlord or owner, try negotiating for a lower price.</p> <p><strong>Online selling platforms </strong></p> <p>People who post items for sale online are typically moving or looking to get rid of unwanted items. Use that to your advantage and ask for a lower price – the worst they can say is no. You could also offer to come and pick it up quickly if they give you a better deal.</p> <p><strong>Internet and phone bill</strong></p> <p>As annoying as your internet and phone provider may be, they don’t want to lose you as a customer. “If you’re signing up or looking to renew, sometimes you can get a lower rate by telling a rep what the competitor is offering and saying it works better with your budget,” says Ramhold. </p> <p>A lot of cable companies give you a promotional price for your first year, make sure to call right before the price goes up for your second year. The competitors will most likely offer better prices for new customers and that can work in your advantage and possibly get you a better deal with your current provider.</p> <p><strong>Insurance rates</strong></p> <p>Just like internet providers, insurance companies don’t want you to switch to a different provider. “Use your customer loyalty to your advantage and try to talk to the right person on the phone,” says Kelan Kline a personal finance expert and co-founder of The Savvy Couple. “Tell them the service you are receiving is not good enough for the price.” They might offer you a discount to keep you.</p> <p><strong>Home services</strong></p> <p>If you’re renovating your kitchen or getting some landscaping done, make sure to shop around and get a few different quotes first. Use those quotes to negotiate with the contractor you want to work with. Also, you may be able to haggle for a better price if you offer to pay upfront in cash or schedule a contractor during the winter months when business is typically slower.</p> <p><strong>Jewellery</strong></p> <p>“You should know that the markup on diamond jewellery is anywhere from 50 to 200 per cent and more,” says Chhavi Agarwal, a personal finance expert. There is always room for haggling. Agarwal suggests politely making a counteroffer. You’d be surprised the changes they are willing to make to the bill. If they refuse to come down in price, try to haggle the labour charges.</p> <p><strong>Returned items </strong></p> <p>Never miss an opportunity to haggle for a better price on items that have been returned to stores. Stores will typically mark returned items that have been slightly used or have a ding with a price reduction, but it doesn’t hurt to ask for more off. They know that items that have already been opened aren’t as appealing to customers and they want to get them sold.</p> <p><em>Image credits: Getty Images</em></p> <p style="box-sizing: border-box; border: 0px; margin: 0px 0px 20px; outline: 0px; padding: 0px; vertical-align: baseline; line-height: 26px;"><em>This article originally appeared on <a href="https://www.readersdigest.co.nz/food-home-garden/money/11-times-you-should-always-haggle-for-a-better-price?pages=1" target="_blank" rel="noopener">Reader's Digest</a>. </em></p>

Money & Banking

Placeholder Content Image

11 times you should always haggle for a better price

<p><span>Haggling can get you a great deal on some items you may have paid full price for. Just remember to be polite – the worst that can happen is they’ll say no.</span></p> <p><strong>Mortgage rates</strong></p> <p><span>Buying a new home is probably the biggest purchase you will make over the course of your life, so every last penny you can save is worth it. “Borrowers should shop their business around to many banks/lenders to see what rates are available,” says mortgage broker Ade Labinjo. “Then use the rates obtained to pit the banks against each other for the purpose of either matching or driving down the rates they were quoted.” Labinjo says that by getting at least one extra quote rate, the average borrower could save up to $1,500. Never settle for the initial quote rate that the bank offers you – haggle for a better price because chances are, they’re not giving you their absolute best offer upfront.</span></p> <p><strong>Flea markets, farmers markets, garage sales</strong></p> <p><span>At flea markets, farmers markets, and garage sales the sellers typically set their own price. If you know how to haggle, this is a great opportunity to get a really good deal. Also, see if buying in bulk or large quantities can get you a price reduction.</span></p> <p><strong>Hotel rooms</strong></p> <p><span>Hotels want their rooms filled, so it never hurts to haggle with the people at the front desk for a better price or room upgrades. “Hotels have to pay a commission to booking websites, and pass on some of that as a benefit to the user,” says Saurabh Jindal, founder of Talk Travel. If you find that the price is the same on the booking website and the hotel’s website, ask the hotel for a room with a better view or more amenities. “Hotels have rooms allocated to various booking platforms and may give you a better option which has not yet been sold.”</span></p> <p><strong>Memberships</strong></p> <p><span>Memberships always come along with extra fees. It might be a renewal fee, startup fee, or a maintenance fee if it’s your gym membership. Ask if they can waive some of the fees or threaten to cancel and go somewhere else. They want to keep making money off of you and might just give you a discount.</span></p> <p><strong>Lease renewal</strong></p> <p>If you’re considering re-signing your lease, know that it is most likely more expensive for the landlord to prepare your apartment for a new tenant than to lease to you for another year. If you’ve had a good relationship with your landlord, try to negotiate in a deal before you re-sign. If the landlord is going to increase your rent, ask if you can increase it by less or not at all. If you consistently pay rent on time, are a respectful neighbour, and take good care of your apartment they may keep your rent from increasing.</p> <p>It’s important to remember who your lease is with though, says Julie Ramhold, Consumer Expert at DealNews.com. If your apartment is owned by a management company, they probably won’t offer any wiggle room. But, if you’re renting from a single landlord or owner, try negotiating for a lower price.</p> <p><strong>Online selling platforms</strong></p> <p><span>People who post items for sale online are typically moving or looking to get rid of unwanted items. Use that to your advantage and ask for a lower price – the worst they can say is no. You could also offer to come and pick it up quickly if they give you a better deal.</span></p> <p><strong>Internet and phone bill</strong></p> <p><span>As annoying as your internet and phone provider may be, they don’t want to lose you as a customer. “If you’re signing up or looking to renew, sometimes you can get a lower rate by telling a rep what the competitor is offering and saying it works better with your budget,” says Ramhold. A lot of cable companies give you a promotional price for your first year, make sure to call right before the price goes up for your second year. The competitors will most likely offer better prices for new customers and that can work in your advantage and possibly get you a better deal with your current provider.</span></p> <p><strong>Insurance rates</strong></p> <p><span>Just like internet providers, insurance companies don’t want you to switch to a different provider. “Use your customer loyalty to your advantage and try to talk to the right person on the phone,” says Kelan Kline a personal finance expert and co-founder of The Savvy Couple. “Tell them the service you are receiving is not good enough for the price.” They might offer you a discount to keep you.</span></p> <p><strong>Home services</strong></p> <p><span>If you’re renovating your kitchen or getting some landscaping done, make sure to shop around and get a few different quotes first. Use those quotes to negotiate with the contractor you want to work with. Also, you may be able to haggle for a better price if you offer to pay upfront in cash or schedule a contractor during the winter months when business is typically slower.</span></p> <p><strong>Jewellery</strong></p> <p><span>“You should know that the markup on diamond jewellery is anywhere from 50 to 200 per cent and more,” says Chhavi Agarwal, a personal finance expert. There is always room for haggling. Agarwal suggests politely making a counteroffer. You’d be surprised the changes they are willing to make to the bill. If they refuse to come down in price, try to haggle the labour charges.</span></p> <p><strong>Returned items</strong></p> <p><span>Never miss an opportunity to haggle for a better price on items that have been returned to stores. Stores will typically mark returned items that have been slightly used or have a ding with a price reduction, but it doesn’t hurt to ask for more off. They know that items that have already been opened aren’t as appealing to customers and they want to get them sold.</span></p> <p><em><span style="font-weight: 400;">Written by Morgan Cutolo. This article first appeared in </span><a rel="noopener" href="https://www.readersdigest.co.nz/food-home-garden/money/11-times-you-should-always-haggle-for-a-better-price" target="_blank"><span style="font-weight: 400;">Reader’s Digest</span></a><span style="font-weight: 400;">. For more of what you love from the world’s best-loved magazine, </span><a rel="noopener" href="http://readersdigest.innovations.co.nz/c/readersdigestemailsubscribe?utm_source=over60&amp;utm_medium=articles&amp;utm_campaign=RDSUB&amp;keycode=WRA87V" target="_blank"><span style="font-weight: 400;">here’s our best subscription offer</span></a>.</em></p> <p><img style="width: 100px !important; height: 100px !important;" src="https://oversixtydev.blob.core.windows.net/media/7820640/1.png" alt="" data-udi="umb://media/f30947086c8e47b89cb076eb5bb9b3e2" /></p>

Money & Banking

Placeholder Content Image

Mastering the art of bartering

<p>Enjoying travel is probably 20 per cent money and 80 per cent attitude.</p> <p>I remember how my first work trip to Indonesia with a cynical and jaded geologist on my team really opened my eyes to the fact that the endless possibilities for wonderful experiences (or otherwise) are very much in the eye of the beholder.</p> <p>I loved bargaining, having learnt it from my father, and on my lesser salary I benefited from it, whereas the geologist couldn't be bothered with the time it took and didn't notice the bemused looks on the faces of the merchants who had just fleeced him.</p> <p>My Dad was the best (Western) bargainer I have ever seen, because he was theatrical. When we lived in Kuwait he was very fond of going to the carpet souq (market) and he never left empty handed, much to my mother's annoyance. He almost always went to the same merchant, who was a small rotund man in a pure white dishdasha, with a row of gold teeth which gleamed as he smiled. Dad would always bring one of us three daughters with him. The performance would go a little like this:</p> <p>Dad: "This is a very fine carpet, but a little small and a little worn. What price is this?"</p> <p>Merchant: "No, no Sir, not worn but very old. And very cheap, for much quality" at which point he would smack the carpet sharply with his hand and a cloud of dust would waft out, demonstrating the filth of generations. The merchant would then wax lyrical about the qualities that only this particular carpet possessed, that it was one of the best he had ever acquired in the price range, and how it would be a steal at any price, but it would go to my father, a much loved customer, for just [amount].</p> <p>My father would gasp, put his hand to his heart, take a faltering step backward, while his eyes rolled heavenward. Whichever daughter he had brought with him would steady him, while the merchant hurriedly produced a chair. Dad would subside into it, and the merchant would press a cup of strong, sweet tea on him.</p> <p>When he had recovered himself, he would say "Well, it is a very fine carpet, for its size, but I cannot afford to pay such a price. My wife would be very angry with me, wouldn't she, dear?" he would address to the daughter, who would dutifully say "Oh, yes, Father!" with great feeling.</p> <p>The merchant, after pontificating a little more about the wonders of the carpet, would then say something like "...but I would not like your wife to be angry, because then you would not come to see me again, so I think I could go down to [lesser amount].</p> <p>Dad would give a little hiccup, and point to the daughter, reminding the merchant that "As you know, I have three daughters, all of the age for marriage and yet unmarried."</p> <p>Any merchant worth his salt understood that this was a great burden, as nubile daughters ate a lot and their weddings were very expensive. Dad would then suggest a ridiculously low price, and the merchant would laugh kindly and suggest a rather higher price.</p> <p>This genial to-and-fro would spiral slowly downward for some time, until Dad eventually got his price, or as near to it as he ever would. He would sigh, and take the dinars from his wallet with a resigned smile.</p> <p>On one such occasion, another Western couple were watching these antics, quite transfixed. As we were leaving, we heard the man ask the merchant, "Can we get the same price you just gave him?"</p> <p>The merchant smiled, once again displaying his personal retirement fund and said, simply, "No."</p> <p>Do you try to snag a bargain at local markets or are you generally willing to go with the price the locals give you?</p> <p>Let us know in the comments below!</p> <p><em>Written by Alison Adams-Smith. First appeared on <a href="http://Stuff.co.nz" target="_blank"><strong><span style="text-decoration: underline;">Stuff.co.nz</span></strong></a>.</em></p> <p><strong>Related links:</strong></p> <p><a href="/travel/travel-tips/2016/06/5-things-to-do-to-avoid-getting-worst-seat-on-the-plane/"><span style="text-decoration: underline;"><strong><em>5 things to do to avoid getting worst seat on the plane</em></strong></span></a></p> <p><a href="/travel/travel-tips/2016/06/5-outrageous-travel-fees-and-how-to-avoid-them/"><em><strong><span style="text-decoration: underline;">5 outrageous travel fees and how to avoid them</span></strong></em></a></p> <p><a href="/travel/travel-tips/2016/06/23-items-you-must-have-in-your-carry-on-luggage/"><span style="text-decoration: underline;"><em><strong>23 items you must have in your carry-on luggage</strong></em></span></a></p>

Travel Tips