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Single Mom Savings Tip: Learn to Haggle!

January 7, 2010

in Advice, Saving Money

Single moms often have to deal with financial hardships. Sometimes you might see that gorgeous dress or that perfect item you know your kids need, but you simply can’t afford the price on the tag. That’s when you make a decision: Do you walk away from it? Or do you learn to haggle the price?

Not everyone feels comfortable with haggling the price. But everything is for sale, as the old saying goes, and everything does have its price — but does it have to be that high? You might be surprised at what you can haggle down. It’s expected at yard sales and flea markets, and you might be good at doing it there, so why not expand your creativity to include things you might not expect?

Here are a few tips to help you get started:

Shop around. Don’t jump at the first thing you see, no matter how badly you want it right then. Go home and look online. See if you can find anything similar to the item on eBay or other online stores. Look for discounts and coupons. You might find something much cheaper than you expected.

If you do find something similar but it costs about the same, then you have room to haggle. Go back to the first place and tell them where you found it – can they offer a discount to earn your business? You might be surprised at how well that works, especially with clothing stores in competition with each other.

Stay true to your word. If you offered them your business for a discount and then you get it, go back and patronize that store as often as you can. The more they see you, the more they will realize your loyalty, and the better your chances of haggling something down in the future.

Comparison shop. If you need to have something done to your home, for instance, talk to the professionals and get quotes. The more quotes you get, the more likely you can haggle the price down. Call your first choice and tell them how much lower their competition bid — can they match the price?

Pay cash. Always pay cash when you haggle the price down, and be prepared to pay it right then. When a seller sees cash in your hand, they are much more likely to bring the price down, because they know you are serious — and they will get their money right away instead of waiting for your bank or credit card company to come through.

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