Andrew Lokenauth | TheFinanceNewsletter.com
Andrew Lokenauth | TheFinanceNewsletter.com

@FluentInFinance

14 Tweets 14 reads Jun 04, 2023
Negotiation should be taught in all schools, it's the most important skill when it comes to building wealth.
Everything in life is negotiable, and not negotiating will cost you thousands.
Here are 10 negotiation tips everyone needs to know:
1) Everything in life is negotiable:
Negotiating is a very skill when it comes to building wealth.
Whether you're negotiating a raise for work, the price of a car or home, or the interest rate on a loan, learning to negotiate will help you save money and increase your wealth.
2) Not negotiating your salary will cost you thousands over the course of your career.
Most employers have flexibility when it comes to salary.
If you don't negotiate your salary, you are leaving money on the table that you could have had if you had just asked.
3) Build a case for why you deserve a higher salary.
Think about the skills and experience you bring to the table, and how they add value to the company.
Employers pay a premium for new hires with fresh perspectives and skills, always negotiate your salary
Don't be afraid to negotiate for a higher salary or for a raise, it's okay to ask for what you want.
Maximize your earning potential through negotiation.
4) Many people don't realize that they can negotiate their bills to get lower prices (cable, internet service, etc)
There are many methods from "threatening" to switch to a different provider, negotiating during a sales promotion, mentioning loyalty or problems with your service
Always negotiate any fees, or for better rates on your bills & services, such as on your credit cards and bank accounts.
5) Negotiate lower interest rates:
If you have a good payment history & are in good standing with your lender, they may be willing to lower your rates.
5) Negotiate your rates:
If you have debt, call your lender & ask for a lower interest rate, it will help you pay them back faster.
6) Negotiate Medical Bills:
Hospitals are willing to negotiate if you pay out of pocket, also, many bills have errors so request itemized bills
7) Negotiating the price of a car or home will save you thousands:
The best time to buy a car is at the end of the month, as dealerships have sales targets to meet and are more willing to negotiate on price.
Car negotiating:
When buying a car you can negotiate the price of a car by doing your research, being prepared to walk away, and being confident.
You can also negotiate for additional perks, such as free oil changes or a warranty.
8) There is a FREE course on Negotiation from the University of Michigan, "Successful Negotiation: Essential Strategies and Skills"
It will help you build negotiation skills and learn how to apply negotiation strategies to your life:
9) Never be afraid to ask:
The fear of rejection stops many people from negotiating. However, remember that negotiation is a two-way street.
The worst that can happen is that the other party says no, but the best-case scenario can lead to significant savings or gains.
10) Negotiation is a skill that can be learned, and like any skill, it improves with practice.
Start with smaller negotiations, like bargaining at a local market or negotiating with your cable provider.
You may not always get what you want on the first try but don't give up.
To get what you want in life you must learn to negotiate. These threads take time to write so if you found it helpful please:
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