Audio Resource: How To Negotiate Everyday Expenses
Hopefully, if you listen to this Tim Ferriss podcast with Ramit Sethi, you won’t have this reaction as you start saving money on your everyday expenses:
- Start the podcast at 7:52: Ramit Sethi shares tactics to negotiate common bills including credit cards (late fees and APR), cable, gym memberships and cell phone companies.
- Have your students take notes on the scripts and use the advice to save their families some money.
- At 14:50: Role play where one participant negotiates late fee with credit card company
- At 18:50: Are there items that are more difficult to negotiate? Three factors to consider whether or not to negotiate.
- At 21:30: What if you can’t find lower prices but still want to negotiate?
- At 22:35: What if you are not in a strong position to negotiate (i.e. you have been a problematic customer)?
I haven’t listened beyond 23:30 as he moved to discuss business negotiations.
Now what? Have your students practice their scripts with a classmate to get the cable company to lower their monthly bill using the tactics that Ramit mentioned. Have the listener provide feedback and then reverse roles.
Interested in how to negotiate everyday expenses, check out this NGPF Blog post: What Common Bills Are Negotiable
About the Author
Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.