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Negotiate for better deals from "summary" of Know Your Money by

When it comes to managing your money, one important skill to have is the ability to negotiate for better deals. This means not accepting the first price that is offered to you, but instead trying to see if you can get a better deal through bargaining. Negotiating for better deals can apply to a variety of situations, from purchasing a new car to signing a lease on a rental property. One key aspect of negotiating for better deals is doing your research beforehand. This means understanding the market value of the item or service you are looking to purchase, so that you have a good idea of what a fair price would be. For example, if you are buying a used car, you should look up the Kelley Blue Book value for that particular make and model, so that you know if the seller is asking for a reasonable price. Another important tip for negotiating for better deals is to be willing to walk away if the terms are not to your liking. This can be a powerful bargaining tool, as it shows the other party that you are serious about getting a good deal and are not afraid to look elsewhere if necessary. Of course, you should only use this tactic if you are truly prepared to walk away, as bluffing can backfire if the other party calls your bluff. When negotiating for better deals, it is also important to be polite and respectful. Being overly aggressive or confrontational is unlikely to get you the results you want, and may actually harm your chances of getting a good deal. Instead, try to approach the negotiation as a collaborative effort, where both parties are working together to find a solution that works for everyone.
  1. Negotiating for better deals is a valuable skill that can help you save money and get the best possible value for your hard-earned cash. By doing your research, being willing to walk away, and approaching negotiations with respect, you can increase your chances of getting a good deal in a variety of situations.
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