Breaking Rule$ - Web Series

Hey Rule Breaker$! 💸

💎💎We’re back with more financial gems from the past. We all know Dr. King for his work in the civil rights movement, but he was also an advocate for financial independence. ✊🏾✊🏾

One of the keys to becoming financially independent is living within your means. In this message, Dr. King shared that your automobile should not cost more than 1/2 of your annual income. 💵💵

However, I tend to agree more with the folks at , and challenge that rule. Your car payment should not be more than 10% of your take home pay, and you should budget 5% more for car related expenses (gas, insurance, maintenance, etc.). 🚘🚘

What do you think, Rule Breaker$? How much are you comfortable spending on your car? Leave feedback in the comments! 💸💸

Hey Rule Breaker$!

Did you know you could negotiate many of your monthly payments? Things like telephone, internet, electricity, insurance, even rent are all negotiable! What’s more is that we’re in a pandemic, so companies are more willing to work with you than ever before. Take advantage!

Some tips for negotiating are:

🗣Ask. Closed mouths don’t get fed! If you think that the company is able to a lower rate, chances are that they can! Phrases like “Is this the best you can do?”, “What can you do for $X price?” (note - take this price down 15-20% to account for a counteroffer), and “Is this the best deal available?” Are all ways to get a lower rate you’d like.
Price Match. When I was in the process of renegotiating my cable package, one of the first things I did was reach out to the other provider in my network to see what they had to offer. I was able to find a package about $80 less than my current company wanted to charge and presented it to them. Sometimes the provider will be willing to match the price or offer a comparable package with a similar rate.

📺 Ask for perks. Using the same example with my cable provider, I was told that unfortunately, they could not match my price so I asked what else they could provide. Sometimes companies will be willing to throw in a free router, modem, cable package, etc. However, you won’t know until you ask!

🚶🏽‍♀️Be prepared to walk away. Finally, when negotiating, you must be prepared to walk away. Finishing up my example with my cable company, I was able to find a package $80 less than what I was paying with a new company. My existing company wasn’t willing to negotiate, so I canceled my service and went to the new company. Funny enough, two days after my new service provider installed my cable, my former company called to offer rates that matched what I originally asked for, but they were, unfortunately, a little late.

The moral of the story - save your coins and negotiate ALL the things! 💰💰

Do you have any additional tips for negotiating rates? Leave them in the comments! 💡💡

Hey Rule Breaker$!

We can’t be the only ones looking at all these credit card charges like….

Don’t worry, we got you! Starting next week, we’ll be providing you with the steps to get your pockets back on track!

Make sure you follow-us to stay in the loop!