Comments on: Asking for a Better Financial Future http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/ personal finance that makes cents Thu, 28 Aug 2008 17:15:28 +0000 http://wordpress.org/?v=2.5.1 By: Craig http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-123039 Craig Mon, 17 Mar 2008 20:47:51 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-123039 I have learned to ask for things, quite contrary to how I was raised. At my work, I asked for a flat-screen monitor, after demonstrating that I could not take screen captures with the monitor I had. I got one. I wouldn't have if I hadn't asked. Also at work, I was cold. Observing that others had personal heaters under their desks, I asked for one. The nice lady in HR got one for me. I would not have gotten one had I not asked. Again at work, I noticed others were allowed to work one or two days a week. After establishing a quality track record for, and after being at my company for more than a year, I asked to be allowed to work from home one day a week. My request was granted last week. If you don't ask, don't expect to receive. Of course, lay the proper groundwork first. Make sure you make it easy for 'them' to say yes. I have learned to ask for things, quite contrary to how I was raised.

At my work, I asked for a flat-screen monitor, after demonstrating that I could not take screen captures with the monitor I had. I got one. I wouldn’t have if I hadn’t asked.

Also at work, I was cold. Observing that others had personal heaters under their desks, I asked for one. The nice lady in HR got one for me. I would not have gotten one had I not asked.

Again at work, I noticed others were allowed to work one or two days a week. After establishing a quality track record for, and after being at my company for more than a year, I asked to be allowed to work from home one day a week. My request was granted last week.

If you don’t ask, don’t expect to receive. Of course, lay the proper groundwork first. Make sure you make it easy for ‘them’ to say yes.

]]> By: Daily Links: Protestant Work Ethic Edition ? Get Rich Slowly http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-117397 Daily Links: Protestant Work Ethic Edition ? Get Rich Slowly Fri, 15 Feb 2008 00:33:16 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-117397 [...] Ask for a better financial future [...] [...] Ask for a better financial future [...]

]]> By: Matyko http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-110908 Matyko Sun, 06 Jan 2008 11:00:36 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-110908 Nice Nice! And mentioning Tim Leary in the end was very heartwarming! :) Nice Nice!
And mentioning Tim Leary in the end was very heartwarming! :)

]]> By: Weekly Roundup | Generation Y Finance http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-110044 Weekly Roundup | Generation Y Finance Sun, 30 Dec 2007 22:16:45 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-110044 [...] Get Rich Slowly - Asking for a Better Financial Future [...] [...] Get Rich Slowly - Asking for a Better Financial Future [...]

]]> By: db http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109999 db Sun, 30 Dec 2007 08:53:01 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109999 There was nothing wrong with Freeway's comment -- I took it as a tongue-in-cheek attempt at levity. People are being far too sensitive -- as is the unfortunate and typical norm today -- by breaking out in hives over the dread mention of god. Heavens to mergatroid, Freeway didn't even use a capital G. There was nothing wrong with Freeway’s comment — I took it as a tongue-in-cheek attempt at levity.

People are being far too sensitive — as is the unfortunate and typical norm today — by breaking out in hives over the dread mention of god.

Heavens to mergatroid, Freeway didn’t even use a capital G.

]]> By: amanda http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109929 amanda Sat, 29 Dec 2007 03:40:40 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109929 Yeah, that was a dumb comment from Freeway. I've also never had luck asking for a rate reduction though I'm going to give it a try this week when I go to close a zero balance credit card. It's with CitiBank and they have been just ruthless to us. I'll ask them to lower it and if they don't, close it. I don't need it, have another card with good rates. Anyway, we'll see what happens. I do think that people negotiate with guys a lot better than they do with women... over everything -- salary, sales, interest rates. My husband gets way more leeway on this stuff than I ever do. That's why I send him in to do the dirty work. If only he could negotiate salary for me. But, that's somewhat beside the point which is that the bottom line rarely is and we should always push it and see where it might really be. Yeah, that was a dumb comment from Freeway.

I’ve also never had luck asking for a rate reduction though I’m going to give it a try this week when I go to close a zero balance credit card. It’s with CitiBank and they have been just ruthless to us. I’ll ask them to lower it and if they don’t, close it. I don’t need it, have another card with good rates. Anyway, we’ll see what happens.

I do think that people negotiate with guys a lot better than they do with women… over everything — salary, sales, interest rates. My husband gets way more leeway on this stuff than I ever do. That’s why I send him in to do the dirty work. If only he could negotiate salary for me.

But, that’s somewhat beside the point which is that the bottom line rarely is and we should always push it and see where it might really be.

]]> By: Freewaymama http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109922 Freewaymama Sat, 29 Dec 2007 00:47:12 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109922 lainie Oh don't get all in a tizzy. I wasn't saying anything about your relationship with god - that was just an expression. I ain't judging you. peace sister! lainie
Oh don’t get all in a tizzy. I wasn’t saying anything about your relationship with god - that was just an expression. I ain’t judging you. peace sister!

]]> By: Odalys http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109899 Odalys Fri, 28 Dec 2007 19:21:46 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109899 I just tried this today with some overdraft fees that I got at Bank of America, got a "NO" from two banks, decided to call a third and they refunded me two overdraft fees... it works, you just have to be persistent. I just tried this today with some overdraft fees that I got at Bank of America, got a “NO” from two banks, decided to call a third and they refunded me two overdraft fees… it works, you just have to be persistent.

]]> By: Asking Nicely For a Better Financial Future » Money Forge » Blog Archive http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109890 Asking Nicely For a Better Financial Future » Money Forge » Blog Archive Fri, 28 Dec 2007 18:14:43 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109890 [...] posted about how you can often get fees waived, interest rates adjusted, prices reduced and more just by asking. Since banks figure prominently in the list of places to ask for favors and I work at a bank on the [...] [...] posted about how you can often get fees waived, interest rates adjusted, prices reduced and more just by asking. Since banks figure prominently in the list of places to ask for favors and I work at a bank on the [...]

]]> By: Lainie http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109868 Lainie Fri, 28 Dec 2007 14:48:27 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109868 Freewaymama, totally inappropriate response. You know absolutely nothing about my situation or my relationship to God. How did this get through moderation? I won't be commenting again on this site. Freewaymama, totally inappropriate response. You know absolutely nothing about my situation or my relationship to God. How did this get through moderation? I won’t be commenting again on this site.

]]> By: Daiko http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109865 Daiko Fri, 28 Dec 2007 13:41:26 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109865 Thanks for all the comments! Here's a few responses. Holly P: I am not worried about having lowered our house value on the insurance policy. They had overvalued the house by at least 25%, and I already have a rider on the policy to guarantee reconstruction costs. BxCapricorn: sad to say, even I occasionally overdraft. I had been trying to keep as much of my money in a high interest savings account as possible, and had left no buffer in the checking. I over-estimated the time it would take for a check to be deposited and ran into another trick banks use: even though the pay that would cover the check arrived on the same day, they credited the withdrawal before the deposit, thus guaranteeing an overdraft. I'm riding a little further from the edge in my checking now. Thanks! Lainie: Take the 1% interest reduction! That will make a much bigger difference than you think, and you can call back in six months to ask for another reduction. My friend has used this repeat request process to bring the interest rates down gradually over time. Marcos: I heard the same thing. I believe President Bush's bill would forgive the short sale difference as income. I've also since heard that a short sale is generally only granted for people about to default on their loan. It makes sense, since the bank is not guaranteeing your profit but loaning you money for the purchase. They are much more likely to subsidize your sale when it will save them money (by avoiding foreclosure on and auction of your property). Wishing you a prosperous future and a Happy New Year! _______________________ Daiko Thanks for all the comments! Here’s a few responses.

Holly P: I am not worried about having lowered our house value on the insurance policy. They had overvalued the house by at least 25%, and I already have a rider on the policy to guarantee reconstruction costs.

BxCapricorn: sad to say, even I occasionally overdraft. I had been trying to keep as much of my money in a high interest savings account as possible, and had left no buffer in the checking. I over-estimated the time it would take for a check to be deposited and ran into another trick banks use: even though the pay that would cover the check arrived on the same day, they credited the withdrawal before the deposit, thus guaranteeing an overdraft. I’m riding a little further from the edge in my checking now. Thanks!

Lainie: Take the 1% interest reduction! That will make a much bigger difference than you think, and you can call back in six months to ask for another reduction. My friend has used this repeat request process to bring the interest rates down gradually over time.

Marcos: I heard the same thing. I believe President Bush’s bill would forgive the short sale difference as income. I’ve also since heard that a short sale is generally only granted for people about to default on their loan. It makes sense, since the bank is not guaranteeing your profit but loaning you money for the purchase. They are much more likely to subsidize your sale when it will save them money (by avoiding foreclosure on and auction of your property).

Wishing you a prosperous future and a Happy New Year!
_______________________

Daiko

]]> By: Marcos http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109849 Marcos Fri, 28 Dec 2007 03:59:44 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109849 Regarding #9 about the short sale - I think I heard that the bill that Bush signed last week doesn't count a short sale as income anymore for 2007 through 2009. http://www.usatoday.com/money/perfi/taxes/2007-12-23-foreclosure-tax_N.htm Regarding #9 about the short sale - I think I heard that the bill that Bush signed last week doesn’t count a short sale as income anymore for 2007 through 2009.

http://www.usatoday.com/money/perfi/taxes/2007-12-23-foreclosure-tax_N.htm

]]> By: Freewaymama http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109848 Freewaymama Fri, 28 Dec 2007 03:25:01 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109848 Lainie It's not sexism. It's god telling you to cut up your credit cards, pay off your debt and stop worrying about interest rates. When you have no credit card debt, who cares what your interest rates are? Lainie
It’s not sexism. It’s god telling you to cut up your credit cards, pay off your debt and stop worrying about interest rates. When you have no credit card debt, who cares what your interest rates are?

]]> By: CJP http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109824 CJP Thu, 27 Dec 2007 20:36:42 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109824 Netbank went belly up and I had to find a new bank for one of my business checking accounts. I stopped in at my local (personal account) bank, and told them I hoped to move my account to a local bank. I asked for and got the monthly charge and all transaction fees waived -- very hard to find for small business checking. Yeah! Netbank went belly up and I had to find a new bank for one of my business checking accounts. I stopped in at my local (personal account) bank, and told them I hoped to move my account to a local bank. I asked for and got the monthly charge and all transaction fees waived — very hard to find for small business checking. Yeah!

]]> By: RacerX http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109820 RacerX Thu, 27 Dec 2007 19:43:36 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109820 I think most of these are going to be in my 2008 goals! I think most of these are going to be in my 2008 goals!

]]> By: MoneyChangesThings http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109819 MoneyChangesThings Thu, 27 Dec 2007 19:41:22 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109819 I am still furious at our local chain bank. We were very pleased with ourselves because by asking, the bank VP pointed out my daughter could put a portion of her savings in a Money Market for 6 months, since she didn't need the $ until the summer. The difference in interest for the stretch (4.5% vs the pitiful savings rate of 1+%) was nearly 100$, 1/7 of my daughter's pay for a whole summer as a camp counselor. What they didn't tell her was if she moved any money out of the Money Market, they would drop her rate. Which they did. Essentially the misadvised her and took no responsibility. PS She took her money out of the bank when after refunding the missing interest, they dropped her right back to the crummy rate. In my experience, you'll have more luck with a local bank, and the profits stay in your community, another bonus. The chain bank, instead of listening to my point, just kept repeating their "policy" ad naseum. BAasically their policy is the customer is wrong, no matter what. Doesn't work for me! I am still furious at our local chain bank. We were very pleased with ourselves because by asking, the bank VP pointed out my daughter could put a portion of her savings in a Money Market for 6 months, since she didn’t need the $ until the summer. The difference in interest for the stretch (4.5% vs the pitiful savings rate of 1+%) was nearly 100$, 1/7 of my daughter’s pay for a whole summer as a camp counselor. What they didn’t tell her was if she moved any money out of the Money Market, they would drop her rate. Which they did. Essentially the misadvised her and took no responsibility.
PS She took her money out of the bank when after refunding the missing interest, they dropped her right back to the crummy rate.
In my experience, you’ll have more luck with a local bank, and the profits stay in your community, another bonus.
The chain bank, instead of listening to my point, just kept repeating their “policy” ad naseum. BAasically their policy is the customer is wrong, no matter what. Doesn’t work for me!

]]> By: Anca http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109813 Anca Thu, 27 Dec 2007 16:58:07 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109813 I stumbled onto something similar over the past couple weekends while shopping for a new apartment. The first place we went to waived the nonrefundable portion of the deposit (50% of the total) because my boyfriend's employer was in their "preferred employer program". The second place didn't have a similar program but gave us the same deal when we mentioned what the previous place had offered. The place we actually chose wouldn't waive the deposit but they did knock off $100/mo off the rent -- which is nearly 5 times the nonrefundable deposit, so it worked in our favor. Next we'll ask them for free or reduced cost storage space. I stumbled onto something similar over the past couple weekends while shopping for a new apartment. The first place we went to waived the nonrefundable portion of the deposit (50% of the total) because my boyfriend’s employer was in their “preferred employer program”. The second place didn’t have a similar program but gave us the same deal when we mentioned what the previous place had offered. The place we actually chose wouldn’t waive the deposit but they did knock off $100/mo off the rent — which is nearly 5 times the nonrefundable deposit, so it worked in our favor. Next we’ll ask them for free or reduced cost storage space.

]]> By: elisabeth http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109812 elisabeth Thu, 27 Dec 2007 16:53:34 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109812 lainie (up in comment 6) asked why she's not getting better credit card rates by asking--I think it might be because she's been a good customer... I don't carry a balance, but who knows I might if the rate were lower. But the credit card companies always tell me I'm already getting the best rate they can offer... However, I have had good results pitting banks against each other for CD rates, especially when I have a CD that is coming due and I'm thinking of rolling it over or adding a bit more to it. Then, usually you just have to show that someone else --especially someone local -- is offering more and if they won't match the exact rate they will usually find some additional per-centage to keep your money there. lainie (up in comment 6) asked why she’s not getting better credit card rates by asking–I think it might be because she’s been a good customer… I don’t carry a balance, but who knows I might if the rate were lower. But the credit card companies always tell me I’m already getting the best rate they can offer…
However, I have had good results pitting banks against each other for CD rates, especially when I have a CD that is coming due and I’m thinking of rolling it over or adding a bit more to it. Then, usually you just have to show that someone else –especially someone local — is offering more and if they won’t match the exact rate they will usually find some additional per-centage to keep your money there.

]]> By: Money Blue Book http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109811 Money Blue Book Thu, 27 Dec 2007 16:32:34 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109811 I love asking too, but hate doing it over the telephone. I avoid it as much as I can because of the frequently long wait times. I highly prefer communicating over email because it allows me to log the messages for evidentiary purposes and substantially shortens my actual wait time. -Raymond I love asking too, but hate doing it over the telephone. I avoid it as much as I can because of the frequently long wait times.

I highly prefer communicating over email because it allows me to log the messages for evidentiary purposes and substantially shortens my actual wait time.
-Raymond

]]> By: steven http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109810 steven Thu, 27 Dec 2007 16:25:13 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109810 Great article and advice. Just wanted to share a small success I had yesterday while buying a mattress. I looked at a $600 mattress, then moved on to an $800 model, which is the one I liked. I asked the sales guy flat out if they could work with me on the price, as I only had about $700 to work with. I ended up getting an $800 mattress for only $680..he even took a portion of the delivery charge out of the price. In total, I paid $768 after tax, as opposed to probably $890. It helps to ask! Especially with big ticket items where commission is involved. Great article and advice. Just wanted to share a small success I had yesterday while buying a mattress. I looked at a $600 mattress, then moved on to an $800 model, which is the one I liked. I asked the sales guy flat out if they could work with me on the price, as I only had about $700 to work with. I ended up getting an $800 mattress for only $680..he even took a portion of the delivery charge out of the price. In total, I paid $768 after tax, as opposed to probably $890. It helps to ask! Especially with big ticket items where commission is involved.

]]> By: Lainie http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109809 Lainie Thu, 27 Dec 2007 15:31:10 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109809 I've had very little luck getting interest rates reduced on credit cards. My balances are high but I have excellent long-term payment records with my accounts -- and they always agree that that's true and that I've been a great customer -- but they just say they can't offer me anything better than a drop of a percentage point at best. I'm reluctant to start the balance-switching game because I don't want to hurt my credit score. I hate to think this is gender-related, but I'm really curious to know why this just hasn't been an effective tactic for me. I’ve had very little luck getting interest rates reduced on credit cards. My balances are high but I have excellent long-term payment records with my accounts — and they always agree that that’s true and that I’ve been a great customer — but they just say they can’t offer me anything better than a drop of a percentage point at best. I’m reluctant to start the balance-switching game because I don’t want to hurt my credit score. I hate to think this is gender-related, but I’m really curious to know why this just hasn’t been an effective tactic for me.

]]> By: BxCapricorn http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109808 BxCapricorn Thu, 27 Dec 2007 15:17:34 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109808 You over-drafted? Tell me you're just taking writer's liberties with the intro. I do like the negotiation angle though, and if you had to fudge the facts to get there, that's fine with me. But if you really did over-draft, you need to start carrying a thumb drive with financial information on it. You over-drafted? Tell me you’re just taking writer’s liberties with the intro. I do like the negotiation angle though, and if you had to fudge the facts to get there, that’s fine with me. But if you really did over-draft, you need to start carrying a thumb drive with financial information on it.

]]> By: HollyP http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109807 HollyP Thu, 27 Dec 2007 14:49:47 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109807 Thanks for the reminder that I need to ask for more. However, I'd be wary about reducing the value of my home on my insurance policy. If, Jimmy forbid, a fire destroys your home, the replacement value on your policy should be high enough to allow you to rebuild the home. (Assuming that you decide not to follow Millionaire Mommy Next Door's advice and sell your house and rent.) Thanks for the reminder that I need to ask for more.

However, I’d be wary about reducing the value of my home on my insurance policy. If, Jimmy forbid, a fire destroys your home, the replacement value on your policy should be high enough to allow you to rebuild the home. (Assuming that you decide not to follow Millionaire Mommy Next Door’s advice and sell your house and rent.)

]]> By: Lisa http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109805 Lisa Thu, 27 Dec 2007 14:43:33 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109805 "Ask for a rate reduction" I can vouch for this. I've worked for several companies doing phone customer service, and there was almost always a way for us to lower the rates for customers. However it was required that they simply ask for a lower rate before we offered it. Sometimes (like for moving truck rentals) it helped to have a price another company quoted. Great information, thanks! “Ask for a rate reduction”
I can vouch for this. I’ve worked for several companies doing phone customer service, and there was almost always a way for us to lower the rates for customers. However it was required that they simply ask for a lower rate before we offered it. Sometimes (like for moving truck rentals) it helped to have a price another company quoted. Great information, thanks!

]]> By: The Saving Freak http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109797 The Saving Freak Thu, 27 Dec 2007 14:01:46 +0000 http://www.getrichslowly.org/blog/2007/12/27/asking-for-a-better-financial-future/#comment-109797 Americans have completely lost the will to negotiate prices. It is ridiculous. The rest of the world is always negotiating and positioning for a better price. We just take whatever the retailer gives us. Americans have completely lost the will to negotiate prices. It is ridiculous. The rest of the world is always negotiating and positioning for a better price. We just take whatever the retailer gives us.

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