csuspect / Flickr
I share five must read blog posts about saving money every Friday.
DealNews shares what to expect from the 2012 Memorial Day Sales.
CNN Money reports about the Groupon lawsuit. Customers who bought or received a Groupon from November 1, 2008 through December 1, 2011 are being offered a class action payout over expiration dates.
Wisebread shows you what five phrases to avoid when negotiating.
Budgets are Sexy gets you ready for yard sale season by sharing tips and tricks to rocking yard sales this weekend!
Time Moneyland lets you know if Memorial Day car deals are really deals or just hype.
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Calling all bargainers! Credit: silverfox09/Flickr
I receive a decent number of emails from folks casting a new TV show related to saving money. But the guy casting this Pro Bargainers show actually called me and asked me for feedback and answered my questions about the show he described. My take: two thumbs up.
So if you’ve thought about responding to a casting call but hesitated, don’t miss this opportunity. Email Zach at tv_casting19@yahoo.com for more info. You can always opt not to participate later! He is mainly looking for folks in the LA or NY area.
T Hoffarth / Flickr
This is a post by BargainBabe.com writer Yazmin Cruz.
Have you ever caved into buying an item at a higher price because you didn’t want to be perceived as cheap? Last weekend, I did just that at the Santa Monica Pier, a major tourist attraction in California.
My family and I headed to Coffee Bean & Tea Leaf to grab drinks. At the front of the line I was faced with a major decision.
A literal use of an anchor. Credit: Beth Rankin/Flickr
Current or original price. What resonates with you when considering a purchase?
A blog called You Are Not So Smart argues that even the savviest bargain hunters, like you and me, are swayed by the original price, called the anchoring effect. I’d never heard of the term anchoring effect until reading this post, but the concept is very familiar. You Are Not So Smart shares this scenario:
You walk into a clothing store and see what is probably the most bad ass leather jacket you’ve ever seen.
You try it on, look in the mirror and decide you must have it. While wearing this item, you imagine onlookers will clutch their chests and gasp every time you walk into a room or cross a street. You lift the sleeve to check the price – $1,000.
Well, that’s that, you think. You start to head back to the hanger when a salesperson stops you.
“You like it?”
My new hat debuted at the polo game, far left.
I bought a smashing white hat with a wide brim – perfect for providing shade on the beach or at a summer party – at Banana Republic this weekend. The hat was already on sale by 25% off, seeing how it’s late July, but I didn’t stop at that.
I noticed two imperfections on the hat and asked for 10-20% off at the register. Under the brim, two pieces of woven material were flaking off. More importantly, a square inch section of the very top of hat was slightly smashed in. The hat had clearly been picked over by others, but given an extra discount I was a willing customer.
Ace negotiator Jim Camp says start with no. Credit: falardeau/Flickr
If you end up fighting the IRS over your 2010 tax returns, a skipped return from last year, or another reason why you can’t pay your tax bill in full, it is possible to negotiate a pay as you can plan. Get the best deal possible with these seven tips which I summarized from Jim Camp of Camp Negotiation Systems. His website is Start With No.
1. Do your homework. Instead of reinventing the wheel, gather information from others who have gone through what you are about to. Look for strategies, precedents and tips online, (including the IRS website). Know your rights and your obligations. Take details notes.
2. Schedule face time. When you call the IRS, don’t talk to whoever picks up. Make an appointment to meet with an agent face to face nearby. Don’t answer questions over the phone. Talking in person gives you
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wwarby/Flickr
Reader Diana, who snagged an almost too-good-to-be-true deal on CVS gift cards while getting a flu shot last month, wrote me about how she spent the money.
Thought I’d share how I decided to spend all those “free” gift cards at CVS.
My dad wants a new shaver for Christmas. CVS had the one he wants for $99.99. An on-line promotion would have given me a $20 discount. But CVS doesn’t allow the use of gift cards on-line. So I went to the store and asked the manager if he would honor the $20 discount in the store. He agreed. When he rang up the purchase, I used the two $29.95 gift cards and one $25 gift card. My out-of-pocket cash came to 1.69. Not bad for a hundred dollar gift!
That’s a hard deal to top, Diana! I’m pretty sure CVS.com accepts gift cards, however. You generally add in the code on the back of the card while you are checking out. I’m glad you talked to a store manager and negotiated the deal you had your eye on!
World's greatest candy bar. Credit: Like_The_Grand_Canyon/Flickr
My sister was elated with her latest score. She haggled for a snickers bar and saved a quarter.
I’m telling you this because haggling is one of my top ways to save money on holiday presents. (Holiday sales are expected to grow by a healthy amount this winter, which tells me you are likely gearing up for a major purchase.) Here is my crash course in haggling. (more…)
My frugalfriend and author Stacy Johnson (I reviewed his book Life or Debt not long ago) shared his five tips for negotiating a lower price, a better room, a free upgrade, and lots more. Inhis post Stacy links to a Consumer Reports video about when bargaining works best. He also shares these stunning statistics from the CR survey:
“These results came from interviewing more than 2,000 men and women who had tried negotiating for at least three years,” he writes. “The numbers below reflect how many achieved a discount at least once during that three year period, along with the greatest discount any of them achieved.”
- Furniture: 94% of those who asked got a better deal at least once.
- Medical Bills: 93% of people who tried negotiating a lower bill were successful at least once.
- Home Electronics: 92% were successful at least once.
- Appliances: 92% were successful at least once.
- Floor Models/demos: 91% were successful at least once.
- Credit Card/Bank Fees: 87% were successful at least once.
- Jewelry: 86% were successful at least once.
- Cell Phone Plans: 80% were successful at least once.
- Collectibles: 78% were successful at least once.
Those are pretty amazing statistics! Of course, they neglect to say how many attempts were made before success. I am successful about 25-50 percent of the time I ask for a discount or perk. But I don’t ask every time, and it’s taken me a lot of practice to get good at playing the customer service game. Here are the negotiating tips I live by.
