Personal Finance Ch. 7 Bargains

To get a good bargain you must...

• negotiate everything

• have patience

• know where to find deals

The first basic rule of negotiation is...

• always tell the truth

• Avoid listening to the other party
• Focus only on your own goals

A Markup is....

• the difference between the wholesale price and the retail price

• A type of coding language used for programming robots
• A type of currency used in online transactions

To negotiate you must be willing to...

• bargain for a lower price

• argue aggressively
• ignore the other party's needs

A place you can find a great deal is...

• Discount stores or during sales events
• At a fancy restaurant
• In a crowded market

A Win-Win deal is great because...

• it results in losses for all parties
• it benefits all parties involved
• it leads to conflicts

You should feel good about a deal only if...

• if it goes against your values and priorities
• if the terms are unfair and disadvantageous
• you haven't misrepresented yourself

The first key to opening the door to big bargains is...

• ignoring the sale
• waiting for others to decide
• to negotiate everything

The second key to incredible deals is...

• Understanding the market and being patient.
• Following the crowd and rushing into decisions
• Ignoring the market and being impatient

If you are planning on doing business with someone again, don't...

• burn bridges
• maintain communication
• build relationships