July 2012 Bonus Issue - Page 15

Save Money By Renegotiating By DailyFinanceOptions.com We all know you can save money by cutting back on what you buy. You can also save money by using coupons or shopping around for the best deals. But you can also save money by negotiating for a better deal. Sometimes, it’s as easy as just asking for it. During these economic times, many companies are willing to take less, as it’s better than getting nothing at all. Here are a few places where you can save money by renegotiating your debt. Refinance Interest rates are at historic lows and will remain low for several years at least. If your interest rate is 6% or higher now is the time to refinance, as you can shave off two percentage points off your rate. This translates into saving hundreds of dollars off your monthly mortgage payment. Stores Many retail stores are suffering in this economy. In order to make a sale they are likely willing to give you a discount. After all, getting rid of inventory and making a small profit is better than having items collecting dust on the shelf. Don’t be ashamed of asking. After all, the worst that can happen is they say no and you pay the price you were going to pay anyway. Credit Cards If you have a credit card with a balance on it with a high rate (near or over 20%) then you should call them asking for a lower rate. Before you call, do some research on what type of rates you could get with another company. See if your current credit card company can match that rate and keep your business.