Is That The Best You Can Do?

Those seven words have the possibility of saving you a considerable amount of money yet in most cases, you don’t use them do you? When you are purchasing goods or services, do you ask if the offered price is really the best price? You might be surprised to find out how often the simple act of asking can result in a better price.

Your success rate with receiving a reduced price will typically vary based on what you are purchasing and the overall cost of the purchase. If you are buying a single lamp shade at the furniture store, they are not likely to offer a cheaper price. But if you are purchasing a new sofa, loveseat and tables, they may knock the price down a little bit.

Over at Fool.com, there was a recent discussion about this on the message boards. Some people are more comfortable asking the question in less common scenarios, such as at the grocery store or restaurant. While others did not agree with that practice, I think you should use your best judgement as to where the best places are to use this strategy.

One of my habits is to usually ask if a store or service provider offers any discounts for paying in cash. In most cases the answer is no, but there have been times where the merchant offers a discount. Similar to that, some merchants will offer a discount if you pay for something upfront. As an example, we have been using a lawn service company (which I am planning to discontinue) and they offer a discount if you prepay for the entire year of service.

Take a look at the places that you are spending money and think where you might be able to ask, “Is that the best you can do?”