Stretch the Family Budget - Negotiate

If you can master the skill of how to negotiate, haggle, bargain, strike a deal (or other such term), then it will stretch the family budget because you will save money and save lots it.

The trick is not to get too emotionally involved in the purchase and always, yes always keep a sense of humor during the process.

I have to be honest, when I was young, my father used negotiate to get a cheaper price and I would cringe with embarrassment and walk away from the discussions. However, as I got older, I saw just how effective it was, how much he enjoyed it and how much money he saved so I tried it.

Initially I wasn't successful but like all other learned skills I practiced negotiation and discovered I too thoroughly enjoy the process.

How to bargain effectively

Whether you are shopping for big ticket items or small ones, learning to haggle will save you money and it'll stretch the family budget.   To negotiate or bargain effectively takes time and practice but here are some great bargaining tips I've found work:

  1. Keep a sense of humor at all times;
  2. Try to build some sort of rapport with the seller;
  3. Remember that this is a process of back and forth and when a deal is concluded you must both be happy with the price agreed upon;
  4. When you find something you want then;
  • first establish the maximum price you're prepared to accept
  • Ignore the ticket price and offer an amount of money below your maximum. The seller might remonstrate, laugh and/or point out the benefits of such a great purchase
  • Stand your ground and listen politely. I like to laugh along with them and pull a "gosh, yes, I am being cheeky face"
  • If they are interested, then they will counter with a higher price. Increase yours some and so the process continues until agreement is reached or not.

5. Remember both parties need to be happy with the deal.

Where Can I Bargain?

The most common places to reach a bargain is when buying a property, car, in secondhand stores, pawn shops, markets, art shops and similar.  

But "mom and pop" stores will often enter into haggling.  I've been surprised to get substantial discounts when buying new refrigerators, televisions, lounge suites etc.  Sometimes the savings are several hundeds of dollars.  

Now that's a good way to stretch the family budget.

I hope you enjoy bargaining as much as I do now that I have an effective technique.  Let me know your success stories.

How to Haggle by Alix Steel

And finally......

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Comments 6 comments

Denise Handlon profile image

Denise Handlon 5 years ago from North Carolina

Travel-this hub brought a smile to myself. As soon as I read, "how to negotiate..." etc. I could just imagine you haggling with the street vendors on your travels. Wonderful tips. Voted useful. Thanks.


travelespresso profile image

travelespresso 5 years ago from Somewhere in this exciting world. Author

It's true Denise I DO haggle. They love it and so do I so everyone's happy. The first sale for the day is really important so when I manage make their first sale they are especially happy. Its a nice feeling.

Thanks for your comment DH and the vote.


prasetio30 profile image

prasetio30 5 years ago from malang-indonesia

We need to control our budget. You have great tips for us. Thanks for writing this. I learn much from you. Take care!

Prasetio


CMHypno profile image

CMHypno 5 years ago from Other Side of the Sun

The British are not known for their haggling skills, but I enjoy a bit of haggling when I am in Egypt or Turkey, and they are usually disappointed if you do not at least try (and you will end up being ripped off LOL!)


travelespresso profile image

travelespresso 5 years ago from Somewhere in this exciting world. Author

Some nationalities want to bargain more than others - both doing the haggling for a better price and being haggled. I like to watch the process as well as participate!

In countries where its expected you'll definitely end up paying over the top if you don't negotiate. Thanks for pointing that out CMH.


travelespresso profile image

travelespresso 5 years ago from Somewhere in this exciting world. Author

You can definitely reduce your costs and give your budget a helping hand by haggling.

Thanks, as always, for your comments prasetio.

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