Asking the Right Questions to Save More Money w/ Matt Schulz #836
Jun 5, 2024
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Financial expert Matt Schulz discusses the importance of asking the right questions to save money. Topics range from navigating financial conflicts to effective negotiation techniques. Learn to advocate for yourself in all areas of life, especially when it comes to money.
Self-advocacy in finances is crucial for resolving conflicts and securing better outcomes.
Negotiation in various industries like healthcare and real estate can lead to significant savings.
Understanding personal value and market standards is key in negotiating salary adjustments with employers.
Deep dives
Saving and Earning with Navy Federal Credit Union
Navy Federal Credit Union offers various savings options with competitive rates, flexible terms, and equity loan opportunities to help members consolidate debt or fund big expenses. The institution's diverse certificates provide a chance to earn more than standard savings accounts, catering to different financial goals.
Empowering Financial Advocacy and Negotiation
The importance of teaching individuals, including children, to advocate for themselves in financial matters is highlighted. Being proactive in addressing financial issues, such as negotiating credit card interest rates or medical bills, can lead to substantial savings. The podcast stresses the need for self-empowerment in resolving financial conflicts and underscores the impact of asking the right questions to secure better financial outcomes.
Navigating Negotiations in Various Sectors
Negotiation strategies in industries like healthcare and real estate are explored, emphasizing the significance of challenging initial bills to understand specific charges, utilizing CPT codes. The podcast delves into negotiating annual credit card fees successfully and securing lower interest rates on mortgages through comparative analysis of lender offers and exploring various mortgage options and terms.
Negotiating Realtor Commissions
Discussing negotiation of realtor commissions, the evolving landscape post-NAR ruling requires careful navigation. Emphasizing the importance of shopping around, speaking with multiple agents, and assessing flexibility in commissions. Caution advised by a realtor friend, indicating agents overly eager to negotiate may lack negotiation skills for the house purchase.
Negotiating with Employers
Exploring negotiation with employers, highlights considering salary, additional benefits, and evolving work dynamics post-pandemic. Stresses understanding personal value and market standards, leveraging transparency in salary data and discussing trends with colleagues for informed negotiations. Advises presenting a data-driven case for salary adjustments and separating personal emotions from negotiation discussions.
If you have kids or been around kids, you might have noticed that they’re not the best at solving their own problems. It’s a continual process of teaching them to advocate for themselves and that there’s more to it than just stating their problem. So for instance “I’m thirsty” might be a constant refrain and while it’s great to recognize the issue at hand, the goal is to turn that into a request: “Can I have some orange juice?” OK, now we’re getting somewhere! Now she’s taken a proactive step in solving her own problem. This is an important lesson to learn because as we’ll discuss today it’s basically up to us to resolve our own financial conflicts once we’re launched into the real world. We need to be our own advocates in every area of life, but certainly when it comes to our money! Joining us today is Matt Schulz who is the chief credit analyst at LendingTree, and he is also the author of the new book, “Ask Questions, Save Money, Make More” which is essentially a money manual that teaches readers the important questions we need to ask. So whether you naturally speak up for yourself, or would rather disappear back into the bushes, be sure and listen to this episode centering around individual empowerment.
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