YOUR MONEY
5 Ways to Beat the Supply Chain Crunch
How to protect your pocketbook and negotiate a better deal.
BY JENNIFER NELSON I 1
t’s not your imagination — the cost of everything from groceries to cars is going up. And, along with shortages
of many everyday items, it seems retailers have the upper hand. But you do have a weapon in your
corner to help manage those rising costs. “Americans need to be prepared
to negotiate,” says Andres Lares, managing partner at Shapiro Negotiations Institute, a global provider of sales, infl uence, and negotiation training and consulting. With that in mind, here are fi ve
tips to negotiate the cost down of your next purchase.
DO RESEARCH Before you negotiate, know the
going rate in today’s marketplace. For instance, when buying a new appliance, research current prices for your desired model at area box stores, independent sellers, and online. In addition to price, pay attention
to how many are in stock — if what you’re looking for isn’t widely available now, you should go in expecting to pay more, but in any
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case, you’ll be well-armed for hashing out a fi nal price by knowing the real value of the product you’re discussing.
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USE SMALL TALK “Whether it’s buying a used
car from a salesman or a private owner, small talk greases the wheels of communication and sets up chemistry,” Lares says. It helps build rapport, which creates trust and credibility. Make sure you smile, present a
friendly posture (no folded arms across your chest, for example), stay engaged, and ask questions. One technique used by top
negotiators is to mirror the phrases and mannerisms of your negotiating partner. For example, your salesperson
might say, “I don’t like quick and dirty deals.” Your reply: “Quick and dirty deals don’t work well for anybody.”
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id you spend less money in the heat of the
coronavirus pandemic than you did during prior years? That’s pretty easy to do
when you stop spending on dining out, movies, sporting events, theater, airfare, hotels, concerts, parties, clothing, and commuting to work.
OFFER A LOWER PRICE, SKILLFULLY
You don’t need to say “yes” to the fi rst price, Lares notes. “A common negotiation strategy includes throwing out a mid-range
Keep Your COVID Spending Habits Here are three ways to
retain some of those valuable saving habits as the economy slowly grinds back to normal: Work out at home.
Remember how devastated you were when your gym closed? But then you adapted with at-home
78 NEWSMAX MAXLIFE | APRIL 2022
price (lower than the listing) and seeing how they respond. “Maybe the week at the cabin costs
$2,000. So, during negotiations, you say, ‘I can probably do $1,750.’” Another thing to keep in mind
when negotiating is the cash price. Sellers frequently will make a slightly sweeter deal for an all-cash sale.
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or outdoor workouts. Check out apps such
as Aaptiv, Trainiac, Jillian Michaels: The Fitness App, Daily Burn, and MapMyRun. Savings: The average gym membership costs about $500 a year. Make your own
coff ee. “If you had a serious Starbucks habit when you were going
ASK ABOUT DISCOUNTS OR INCENTIVE PROGRAMS
Anyone looking to purchase a new or
to the of ice every day, you were probably stunned to see how much less you spent once you figured out how to mimic their cold brew at home,” says Trae Bodge, shopping expert at
Truetrae.com. “Try making at least one cup a day at home and bringing it in an insulated travel mug.” A one-time investment in a nice brewing
Q/FGC/SHUTTERSTOCK / HOME/LINEAR_DESIGN/SHUTTERSTOCK
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