Play “Let’s make a deal”

Have you ever been car shopping? Ah, the dreaded negotiation between salesman and car buyer. Whether your experience has been good or bad, the use of negotiation can be an effective tool to save you thousands of dollars.

Did you know that many things in our everyday life are financially negotiable? As with any negotiation, the best result is a win-win situation. Keep this end in mind as you look for negotiable opportunities.

Here are just a few common overlooked negotiation areas

	Internal Revenue Service (IRS) – In an effort to become more “taxpayer friendly” the IRS does allow taxpayers to negotiate a payment plan on late taxes and in some cases will reduce or eliminate certain penalties and interest..
	Credit Card Interest Rates – If you have established good credit and consistent payment with your credit card companies, some may provide you a lower interest rate upon your request.
	Student Loans – Whether you are paying back your own loans or those of your children’s, you may be able to negotiate lower interest rates by simply setting your payments up on an auto draft from your checking account or making consistent payments. You must contact your student loan processor to negotiate or take advantage of these and other programs.
	Medical Bills – Depending on your situation, you may qualify for financial assistance from some hospitals or medical practices. Not all private practices will have financial assistance available, but most will often negotiate a lower fee when insurance does not pay.
	Utility Bills – Utility companies often have different programs available that help cut your cost or help level out your cash flow. Level billing programs allow you to pay an average bill each month rather than large fluctuations throughout the year. Other utilities offer different meters or usage programs such as demand meters that allow you to manage your usage and save utility costs. Contact your local utility companies to see what is available in your area.
	Property Taxes – Compare your assessed values on the tax role to those actual values for comparable properties. If your property is overvalued, contact your tax appraiser and ask for an appeal.