Haggling And Negotiation

It's time to roll up our sleeves and get real about saving money. Wait a minute! Aren't we already doing that?

The Fine Art of Haggling As We Negotiate for Sport and for Survival

Everyone's on a hunt -- a hunt to find cheaper gas, grocery coupons, discounts, and ways to save on energy.

The quest extends far beyond lowering our utility bills, our grocery bills, giving up gourmet coffee, and not going out as much as we used to. So, given that times are changing, we need to re-educate ourselves on how to save.

One of the biggest ways we can save ourselves thousands of dollars each year, is to practice the age old art of haggling. In the good financial times that we've all enjoyed for far too long -- we seem to have forgotten that quibbling over a price, is one of the key ways to save substantially on all of our purchases.

Early negotiation training begins with our children, the sooner the better. Buyer negotiation is fundamentally an important extension of having good communication skills.

Teaching our children these skills are as important, as it is to teach them the difference between wants vs. needs. Children need to learn early, the following skills:

• How to bargain;
• How to compromise;
• How to find a middle ground;
• Give and take.

Negotiating skills are gifts you can give your children that will last them a lifetime.

Effective negotiation is successful negotiation, anything less is a "no deal."

There are probably a hundreds of known, valid and valuable negotiation strategies, depending upon what you are buying and where you are buying it.

Some of the key negotiation strategies are:

1. Research comparative prices on all major purchases;
2. Don't start your negotiation with the price you are willing to pay, always start out lower;
3. Never accept no for an answer from someone with no authority, find the person who is authorized to say yes;
4. Never give up, walk away and come back and try again later, if you don't like the price;
5. Always determine if there is an upcoming sale before agreeing to a price;
6. Always ask for discounts on damaged goods;
7. Don't be timid about coming back and asking for the sale price if it goes on sale right after your purchase;
8. Also don't be timid about asking a store to beat their competitor's price on the same item;
9. Always negotiate;
10. Never be afraid to walk away, remember "you are selling money, not buying something." Cash not only talks, it talks loudly.

Many women and some men shy away from haggling. Caring too much about appearances and worrying far too much about what others might think -- can be a downfall in a slowing economy.

Paying too much for something, just because you are afraid of looking silly or stupid, isn't a wise financial move. Insisting that you can only buy at high end, high priced stores is also a false notion. You can buy the exact item, with the exact same quality at other stores if you search around.

It is interesting that in American culture, haggling and price negotiation is usually only limited to automobile purchases, while the rest of the world expects quibble and bargain over the price of everyday items. It makes me wonder, when we crossed the line of thinking it was OK to accept at face value a stated price? Was that a result of good times and affluence? Was that a result of the disease of "entitlement" and being spoiled?

It's important as parents to not only teach our children the skills of successful negotiation at an early age, but to understand that the talent to negotiate, is a life skill necessary and vital to their future success as adults. Finding the middle ground in negotiation gives your children skills in the four "C‘:

• Compassion
• Compromise
• Confidence
• Conviction

Additionally, learning the skills of negotiation gives them important social interaction skills. Throughout their lives they will have to negotiate in marriage, in friendships, in social organizations, on-the-job, and a thousand other places, besides at the point-of-sale. Learning that successful negotiation is always a win-win situation teaches them valuable lessons in accentuating fairness, and compassion for the other person. In turn, your child will find power, independence, and respect for not only themselves, but others.

There are virtually no limits to opportunities for parents to teach the skills of successful negotiation, it can begin as simply as encouraging a toddler to decide which color outfit they would like to wear on a given day, or whether or not they want string beans or carrots with their dinner. Successful negotiation also means that your children will feel that their opinions are both honored and respected.

This doesn't mean that everything is open to discussion in life, nor does it mean that you as a parent, are giving up, or giving in on every aspect of daily routines and rules.

Price negotiation tactics are NOT:

• Being mean, bullying, or being condescending towards the seller;
• Trying to haggle over everything in life -- that's not haggling -- that's being cheap;
• Whining or begging;
• Creating a scene.