Make this the year you remember to ask - and you might well receive.
Although our society isn't based on bargaining, you might be surprised at what bargains you can receive if only you ask.
Example: I took my car in for servicing and was given an estimate of $510. When I picked up the car, the invoice said $758. Extra parts had to be replaced, I was told.
"You could have told me the cost could run between $500 and $800, depending on what parts needed to be replaced," I said with less than a smile on my face.
The service manager replied: "Let's see if I can do something," and took 10 per cent off the labour costs, a $43.45 saving.
Example: When the dealership's driver took me to work after I had dropped off my car, he told me he had managed to get both his personal loan rate and his home insurance premium reduced.
"I told them I'd been receiving all kinds of offers from their competition," he said. "'I'm confused,' I told them. 'What do you have to offer to keep my business?' And in no time they gave me a better deal."
Example: I buy a few bunches of flowers at a local market every week. "Can you help me a bit with the price?" I asked, and now I get a discount of $5 to $10. Asking for a break like this takes perhaps one minute. Multiply the $5 to $43 I saved by 60 - and I was earning an impressive $300 to $2,580 an hour, tax-free!
We have learned to bargain when it comes to large purchases, like a home, car, major appliances and so on. Many other items regularly come on sale. You could simply say, "What's the price when this comes on sale?" to see if you can get that price.
Remember, the individual or company will still make a profit, even after giving you a break. So always ask. You have everything to gain and nothing to lose.
Mike Grenby is a columnist and independent personal financial advisor; he'll answer questions in this column as space allows but cannot reply personally. Email [email protected].
