Negotiation is one of the most powerful money tricks you will ever learn, and if you practice it, negotiation can save you hundreds, if not thousands of dollars a year.

You see, there are only two ways to repair an ailing budget- make more money, or spend less money. While making more money can be tricky, you’ve got the “spend less money” capabilities right now, so why not go for it?

Honestly, I used to hate the thought of negotiation. It was literally the last thing I ever wanted to think about, let alone try. I’ve watched so many men be really good at negotiation and thought, “I can’t do that.” What I learned though was that you don’t have to be mean to negotiate. You do have to ask a lot of questions and think on your feet.

Some of my very favorite things to negotiate that save a lot of money are:

– Your cell phone bill- oh yah, have you called to renegotiate your cell phone bill in the last 6 months? Why not? Yah, you thought the rate was the rate, but guess what, it isn’t. I guarantee you that if right after this podcast you go and call your cell phone carrier and ask them for a better rate, you will get it. On average, you will probably save between $15-$100 a month, depending on your carrier. Money is money.

– What about your car insurance? We all have to pay it; if you live in Los Angeles like me the rates are steep. If you’ve been in an accident the rates are budget busting. Did you know that there are all sorts of discounts that you can get, but most carriers won’t suggest them to you, you have to do the work? Good driver discount, multi line (other insure), and so on. There are even apps like Go Insurance Savings and Fast Discounts in iTunes store that compares your insurance cover and alerts you to savings. Check it out in the app store. I was able to save money on our current plan right away.

– Here’s a favorite of mine- rental deposits. Bet you didn’t know that you can actually negotiate your rental deposit (the money you give up front) AND your rent? I have NEVER paid the full rental deposit ever. You’ve got to have good credit and not be a psycho renter, please always try to impress your future landlord. For example, our last condo that we rented we saved over $1500 on the deposit alone. That’s a lot of money for just asking some questions and negotiating.

– What else? You can negotiate car purchases for sure, car leases, eBay, Stubhub tickets, office rent, checking account fees, credit card interest rates, and you all know my favorite negotiation tactic: Negotiation on vacation rental properties with Airbnb and VRBO- we love to travel, but don’t love to break the bank. We’ve rented apartments in San Francisco, Paso Robles, CA, Palm Springs, Paris and more and not only negotiated a cheaper rent, but also scored some freebies, again, all for asking.

Lots more tips and ideas on this weeks podcast. Be sure to email questions to us at yourmillennialmoney@gmail.com.

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