8 tricks for increasing your chances of getting a discount

posted by Simply Money -

You work hard to stick to a budget and plan for extra expenses, so why pay more for products or services you’re in search of? With a little research and time, you may be able to decrease the purchase price significantly. Here are a few ways you can ask for a discount.

Be polite: Kindness can go a long way. If you’re polite and a joy to work with, you may be more likely to receive a discount. People may be willing to help you if you are pleasant and have the best intentions. So remember, be polite and extremely respectful.

Ask the big question: “Is this the best price you can offer?” By being polite and respectful, you may be pleasantly surprised by the response you receive. The worst thing that could happen is you walk away disappointed. However, you never know if you could receive a discount unless you ask.

Find the person in charge: If you feel as though you are not getting the answer you want, ask to speak with a manager. They may have more authority to give you a discount. Most employees may not have this capability.

Negotiate: Negotiation isn’t just for used cars or homes. You can use this skill when purchasing goods or services. The key to a successful negotiation is doing your research ahead of time. Knowledge is power. By educating yourself and approaching the situation with confidence, there’s a chance you’ll get a better price on the good or service you’re about to buy.

Pay in cash: The credit card fees stores pay can range anywhere from 2% to 8%. This can cost retailers a large amount of money. By paying in cash you can decrease the cost for them and increase the chance of a discount for your purchase.

Shop during low traffic hours: When a store opens and closes for the day are the best times to try and haggle. When there are fewer people in the store, the clerk will have more time to talk to you and meet your needs. Be patient and kind when discussing any item you’re interested in.

Keep shopping: Most people stop shopping for an item once they’ve purchased it. However, this could keep you from finding a better deal. For example, say the item you purchased went on sale the week after you bought it. Go to the store and request a price adjustment. If they won’t adjust the price, return the item and purchase a new one at a lower price.

Ask about reward programs: Many companies have loyalty or reward programs. Whether you receive a free cup of coffee from purchasing 10 lattes or $10 off every $100 you spend, you’re still saving money. Keep track of all your reward programs and make sure you’re getting the most out of your money if you shop at specific stores.

The Simply Money Point

You never know when you may get a discount unless you ask. Research and compare deals so you’re well informed. Never stop shopping. There will always be a better price. By taking the time to find the best deal on any given item, you can increase the amount you’re saving for retirement. Don’t be afraid to negotiate. After all, this is your money and your financial future.

To find out if your saving and spending habits have you track to help you live the way you want today and tomorrow, we invite you to speak with our team at Simply Money Advisors.

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