- What are the three keys for getting bargains?
- Why is cash a great bargaining tool?
- What is the If I take away technique?
- Why is it important to be honest when negotiating?
- When negotiating what kind of deal should you set up?
- How do you haggle?
- How do you negotiate a deal?
- How do you negotiate a bargain?
- When investing with a mutual fund your return comes when the value of the fund increases True False?
- Why is bargain shopping an important part of a healthy financial plan?
- Which of the following is true about the ʺIF Iʺ take away technique?
- What are the lucky seven rules of negotiation?
- What are the five steps you should take before making a significant purchase?
- What does the KISS principle stand for?
- What are the benefits of being a wise consumer?
- How does communication about important financial matters?
What are the three keys for getting bargains?
Terms in this set (14)What are the 3 keys to getting bargains.
Learn to negotiate everything.
What are the 7 basic rules of negotiating.
Always tell the truth.
What are places to find a great deal.
Walkaway power.More items….
Why is cash a great bargaining tool?
A great deal often just happens by accident. Using cash gives you more bargaining power than using credit. Being married (or emotionally attached) to a purchase will cause you to lose bargaining power. … Shopping for bargains is part of a healthy financial plan because it makes your hard -earned money go further.
What is the If I take away technique?
Use the “If I” take-away technique. You use this one near the end of the deal, after you’ve pretty much figured out the lowest price possible. The point is to agree to a price, but then throw something else into the deal.
Why is it important to be honest when negotiating?
Stark and Jane Flaherty write: “The more confidence your counterpart has in your honesty, integrity and reliability, the easier you will find it to negotiate.” When you develop trust, you can more easily accomplish what they say is the ideal outcome in almost any scenario: win-win.
When negotiating what kind of deal should you set up?
Money Matters Chapter 8 ReviewABWhen negotiating, what kind of deal should you set up?A win-winWhere are good places to negotiate?Flea Markets, Consignment Shops, Pawn Shops, Thrift Stores, Garage Sales, Estate SalesWhat are the characteristics of cash?Visual, emotional, immediacy46 more rows
How do you haggle?
Top tips for haggling like a proPick the right moment. … Head straight to the top. … Mind your manners. … Know the competition. … Know what you’re comparing. … Think outside the box. … Bundle products. … Don’t settle for the first deal.More items…•
How do you negotiate a deal?
Share information. We often approach negotiation being very guarded and wary of showing our cards. … Rank order your priorities. … Go in knowing your target price and your walkaway terms. … Make the first offer. … Don’t counter too low. … Counter offers make both parties more satisfied.
How do you negotiate a bargain?
9 Tips To Drive Down The Price Of Just About AnythingBe discreet. Don’t start bargaining with a salesperson in front of a large group of other shoppers. … Be diplomatic. … Give them an incentive to bargain with you. … Ask open ended questions. … Show your intelligence. … Do your homework. … Use silence. … Seek a cash discount.More items…•
When investing with a mutual fund your return comes when the value of the fund increases True False?
When investing with a mutual fund, your return comes when the value of the fun increases. It is impossible to find a 12% rate of return on your investment. you want to invest in mutual funds that have a positive track record for at least the last 5-10 years.
Why is bargain shopping an important part of a healthy financial plan?
Shopping for bargains is part of a healthy financial plan because it makes your hard-earned money go further. Most of the items at the pawn shop are stolen. Being emotionally attached to a purchase will cause you to lose this. … The exchange of goods or services without the use of money.
Which of the following is true about the ʺIF Iʺ take away technique?
Which of the following is true about the ʺIf Iʺ take-away technique? This technique involves negotiating the lowest price possible, then throwing something else into the deal. Which of the following is not recommended when selling something you own? Find an uninformed buyer and charge the highest price possible.
What are the lucky seven rules of negotiation?
The 7 Rules of Power NegotiationWhere do people learn to negotiate successfully? … Rule No 1 – Everything is negotiable. … Rule No 2 – Know what you want before negotiating. … Rule No 3 – Aim for a Win/Win negotiation. … Rule No. … Rule No 5 – Never believe anyone else is entirely on your side. … Rule No 6 – Strive to be innocent. … Rule 7.More items…•
What are the five steps you should take before making a significant purchase?
Test Review – Chapter 6 – Consumer AwarenessABWhat are the five steps you should take before making a significant purchase?1. Wait overnight, 2. Consider your buying motives, 3. Make sure you understand what you are buying, 4. Consider the opportunity cost, and 5. seek wise counsel45 more rows
What does the KISS principle stand for?
keep it simple, stupidKISS, an acronym for keep it simple, stupid, is a design principle noted by the U.S. Navy in 1960. The KISS principle states that most systems work best if they are kept simple rather than made complicated; therefore, simplicity should be a key goal in design, and unnecessary complexity should be avoided.
What are the benefits of being a wise consumer?
In addition to economic savings, wise consumers enjoy improved health and have a positive impact on the larger social and even global environment. Explain how “walk-away power” can be used as a negotiating tool. You must not get emotionally attached to the purchase.
How does communication about important financial matters?
How does communication about important financial matters in households reduce conflict? communication allows people to share goals, agree on spending, and have and open, honest relationship when it comes to money.