I’m piggy backing off /u/theredpillfinance here and his useful articles on investing.
Along side your long-term investments, not spending money frivolously. To help keep more money in your pocket, a potentially important skill in life is bargaining/haggling. This is related to smaller purchases <£1000 etc.
If you’ve had your eye on a certain product for a while and saved up enough money to buy it outright. You’ll be able to save some money easily by just asking for it.
This advice generally applies to quality goods that have higher margins than products you can buy online etc. But are made by local or bespoke suppliers. Think watches, suits or specialist sports equipment. Send hand equipment is another are it can be used.
Brick & Mortar shops are crying out for trade and will gladly take some money off the market prices to get your cash in their pocket.
E.g. I purchased a watch last year the RRP was £750. Nothing too extravagant, but I wanted a nice watch to celebrate closing a chapter of my life. I liked the look of the watch and asked the assistant the price.
Me – “How much for X?”
SA – “£750 sir”
Me – “Hmm ok, may I try it on?”
SC – “Sure”
Then a bit of back a forth about me. Normal salesmen spiel.
SC – “So what do you think?
Me – “I like it, but I’m not sure on the price.”
SC – “We could do it for £650, if you would like?”
Me – “That’s an improvement. But how much for cash?”
SC – “I’ll check with my boss.” (Comes back a few minutes later) “£550, cash sir”
Me – I’ll take it.
In addition to just asking, I went in towards the end of a quiet month. When I knew they would be trying to hit sales targets before being appraised for their bonuses. I did some research on the watche(s) I wanted too.
In business cash flow is one of the most critical elements to keeping the doors open. So use it to your advantage. You must be willing to walk away if you don’t like the price. (I bought an expensive suit by not following this advice)
Don’t get attached to the item.
I very rarely pay full price for anything now. However I generally only buy higher quality items. I’ve found they last longer, look better. Over the long run work out cheaper than multiple lower quality items. (Item cost/days of use)
N.B. I know that jewellers know they will have to bargain with customers and put an inflated price on their stock. So they may knock a few quid off to seem like they are giving a good deal, to begin with.
Chris Voss's - Never split the difference is a good read on how to do this.

SaberSpyder 6y ago
Also remember: "Rich people ask how much, poor people ask how much per month"
Don't buy a 40k car if youre only making 20k a year, you could afford the monthly payments but you're only digging yourself a hole. Make enough money to be able to actually buy it.
Nicolas0631 6y ago
If you have lot of money, you keep it for you. If you need something, you make the bank, the clients, your company whatever to pay, not you.
If the rich want a car, he will get one of his company to pay for it or maybe just rent it and put that as an expense so the company don't pay taxes on it.
grandmasbroach 6y ago
I sold cars for long enough that they don't do much for me anymore. Right now I do well financially. But, I drive a 20 year old volvo that I got on Craigslist for $500. Thing has been driving fine for the last year. It's a lot of money to save when you buy a car for what a lot of people pay a month. Cars are depreciating assets. They are money pits, the opposite of an investment. I think it's best to drive a car wya under your means and invest what everyone else is spending each month on a car payment. That, or throw the extra at your mortgage to get paid off way early.
SaberSpyder 6y ago
word bro unless youre a car enthusiast you dont need the best one
bsutansalt 6y ago
I'm reminded of the Einstein quote:
“Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”
Stron2g 6y ago
I just remembered Einstein was Jewish
MarbleWheels 6y ago
This. A car should be maaaaaax one year of your NET income, and this if you are a peteolhead or need a family car. Avoid unnecessary debt like plague also.
OhNeptune_002 6y ago
Hell even better is to buy slightly used. Cars depreciate hard as soon as you drive off the lot and even more so in the first few years. I bought a luxury car by looking around buying a few years old, saved a crap ton off the sticker, insurance, taxes, and property tax buy buying a few years old and negotiating with multiple locations.
lefty929 6y ago
I also have to add to this, rich people invest. Be it in stocks, bonds, real estate, whatever.
The amount of friends I have that simply hold cash is astonishing.
Now is an incredible opportunity to buy some equities for cheap.
Just plan to hold for 1-2 years minimum. Don’t bother daytrading shit. Corona has knocked prices so low and they will continue to tumble for a few weeks. Get some big blue chip stock for cheap, wait 1-2 years, then profit.
It’s fine to hold some cash. But anything beyond a comfortable cushion should be invested.
Encoreyo22 6y ago
As someone who daytrades frequently 100+ on this advice, invest some time and hold long time, super easy money for anyone.
biezpiens 6y ago
everyone sits on their cash . it's literally 5 , 6 figures sitting in a fucking ISA accounts and making 15 basis points per year..
lefty929 6y ago
I know, isn’t it hilarious. Banks are loving it. People with 5-6 figure sitting on cash? Fuckin beautiful. Banks making income on that and paying virtually nothing in interest. Investing is so intimidating to people, unfortunately.
Nicolas0631 6y ago
You may need to wait 4-5 years or even 10 year for a significant profit. Market can stay irrationnal longer than you can endure. And with this coronavirus things people are completely irational. Can be in 1-2 years but also can be in 5-10 years.
For example I am in France. Now all schools & non vital shops are closed. Only shop selling food or health related product, gazonile for car are allowed to be open.
All events are cancelled: sports, concert. Cinema, pub, restaurants and alike are all closed. The airport are half closed and public transportation is still there but restricted.
This was already the case in Italy and it look like it will be soon the case in whole US & Europe. This may have more impact than we imagine.
Companies will go bankrupt, employees will be fired and so on. It make take longer than you think for everything to go back to january levels or even current levels.
lefty929 6y ago
The market is forward looking. Players are attempted to discount back to today, every day, a fair price which includes future paybacks.
Everyone is entitled to their own opinion but I don't think you'll find any serious investor thinking that 5-10 years is the amount of time it will need to return to January levels.
Christ, that's not even the timeline of the 2008 financial crisis lol.
Common estimates are that this will cut GDP growth in half for a year. Note that GDP will still grow in the current year.
Your expectation of 5-10 years to return to January levels is, in a word, ridiculous.
Every time progress on cure is even hinted at the markets rally hard. When a cure is actually synthesized they will erupt like a 15 year old kid watching porn. That is very possible to happen within a 1 year timeframe making it very realistic that within 1 year we can be back to January levels.
Nicolas0631 6y ago
Dow Jones in US took 5 years to get back to the peak of 2007.
CAC40, my country key stock index didn't ever reach again it peak of 2000. The peak of 2007 and 2020 didn't reach it even if they were near (10% bellow). So that's 20 years.
It does happen you know this is not theory. It is common.
I am not as far as saying it will be the case again. Your version that it might be only 1-2 years sound quite possible to me. But that also possible that you need to wait 5 or 10 years, even in US also seems quite possible to me. After all ii actually took that time in the previous crisis.
That's why you put a bit every month and that investor say that stock are for long term like 5 years or more. If you need the money in 1-2 years, in particular in today market, you don't invest in stock.
ebaymasochist 6y ago
Holding cash is better than spending it at least. Paying off debt is almost always the better move over investing in a 401k or similar. Pay off your debt and it's a guaranteed return on money.
But anyone who can invest will have a great buying opportunity now, indeed. Airlines especially
Nicolas0631 6y ago
Many companies increase the amount you put into the 401K and you don't pay taxes on the 401K. This means that this is still quite interresting.
If necessary, move your debt to lower your interrest rate. But normally, you want to increase your debt to make use of the lever it provide.
You'll accumulate much slower if you refuse to go into debt.
unamedasha 6y ago
Depends on the interest rate of the debt and your tax rate, but generally you're better off investing in tax-advantaged accounts (401k or ira) then you are paying off low interest debt (<6%)
ebaymasochist 6y ago
I didn't think about that part, for people who make a Lot of money it would work out. Those people don't usually need financial advice like this. Thinking more about people with credit card debt and school loans, a car payment, might be waiting until pay day to buy something, couldn't get a mortgage so they're renting... Most working people in their 20s
lefty929 6y ago
401k is very different than holding a personal investment portfolio.
Holding cash to maintain a cushion or emergency fund is fine.
Having cash in excess of your cushion is useless and any smart person would be investing it.
BadDad01234 6y ago
I've been trying to watch as many YouTube vids as I can. General advice is 3-6 months of living expenses saved, invest the rest. Baby steps for me lol. Will get there, and will learn exactly how to invest in the meantime
at1445 6y ago
Corona hasn't knocked shit down. The early drop last week was due to Oil losing 25% of it's value over the weekend. The 2nd drop was almost completely wiped out with a rally on Friday.
lefty929 6y ago
I don’t know whether you’re trolling or just incredibly stupid
Escape_From_Betacraz 6y ago
There is a drop. But it's probably not going to be the end of it
PhantomLegend616 6y ago
Whats "big blue chip"stock?
theadj123 6y ago
'blue chip' refers to the Dow Jones Industrial Average, it's what you see on TV when talking about stocks and someone says 'the Dow dropped 1000 pts today'.
lefty929 6y ago
Huge companies. Think Microsoft, Disney, McDonalds. Generally, the bigger the company the safer the stock
WokeCalifornian 6y ago
Inb4 Ford or GE is mentioned - company size doesn’t necessarily make a good company.
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mrpmonk 6y ago
How to buy stocks? Robinhood?
lefty929 6y ago
Any discount broker or your own banks brokerage
that_star_wars_guy 6y ago
Fidelity is great and they are one of many companies that do not charge commissions for many trades. Their cash management account is also great.
BadDad01234 6y ago
My 401k is through fidelity. I'll have to check them out instead of Robinhood. Getting life back on track after divorce.
mrpmonk 6y ago
My 401K is also set up with them. But didn't know you could do stocks. Thank you!
BadDad01234 6y ago
Yessir! I know its a highly regarded company for investment especially new investors due to zero fees. I don't know if now is a good or a bad time to get started lol
grandmasbroach 6y ago
Just don't do this with cars at a dealership because we will laugh at you for not understanding the process that much. When a person gets a loan for a vehicle, the bank cut us a check the same, or next day. So, every deal we did was paid in full as soon as the financing was done. Paying in cash didn't matter in the least because again, the bank cut us a check. Then, you pay the bank back. We actually would prefer dealing with the bank than you anyways.
So no, you're not getting a better deal because you are paying up front. The only difference in cash and financing is that we get paid from the bank instead of you that day. And, we'd rather be paid by the bank than take your $20k+ of money when we know fuck all where it came from.
Maybe this works on smaller stuff. Idk. Just don't do it at a car dealership or we are going to chuckle a bit.
QuinlanBothese 6y ago
Keep posts like these coming practical life advice is always nice.
iwviw 6y ago
Read rich dad poor dad. Audio book for it is free on YouTube. Read “the richest man in Babylon” pdf is free with a google search. It will change your perspective as a consumer and your financial habits.
It sounds corny but it really did change me
Isbjornsolo 6y ago
I'm drawing one up for those who run their own companies vs a salaried/waged employee to show how people get fucked over by the systems in place. Internal "assets" vs private purchase. Plus a basic template of how to do this yourself.
It will be UK specific but I'm sure the parallels will be applicable to other states/nations.
MarbleWheels 6y ago
This is a FUNDAMENTAL skill! Just a note on the cash thing - too often the big discount (here with 22% VAT you can get a 30% cash discount) is due to tax evasion. Not cool.
Isbjornsolo 6y ago
VAT is a stealth tax after you've already paid tax on your earning. Any way for people to avoid they should. Businesses do it, it's just legal to claim it back.
PepinoSF 6y ago
Very bad advise. If you dont like your goverment, then revolt. What you do by avoiding the tax is stealing from your contrymen like a rat.
frenchfortomato 6y ago
If you aren't gaming the system, the system is gaming you.
Nicolas0631 6y ago
Revolting isn't practical and you know it. It take to devote your life to it and the chances of success are low.
But this isn't really the point. Arbitrar rules say you shall pay this and that. If you can avoid it without risk, that's your benefit. End of dicussion.
People do it because it works.
driticool 6y ago
Probably a language/culture barrier, bud I don't understand. Why would the lower the price if you offer cash instead of card? Or?
Isbjornsolo 6y ago
I’ve worked all over Europe and travelled the world. Cash is king wherever you go. The west will have greater opportunities as you’re probably buying more expensive items.
It won’t work in national chains for cheap commodity products. But for quality stuff you’ll usually get some money off. Or you just walk out the door.
stevecapw 6y ago
There are transaction fees for processing the card payments too.
at1445 6y ago
This is the right answer. They aren't having to pay a 2-4% fee if you pay in cash and they have the money immediately ready to spend, instead of having to wait for a check/card to clear the bank and get deposited in their account.
The vast majority of people aren't trying to scam the government out of their taxes.
stevecapw 6y ago
Yep. I'm a small business owner (home service industry). I don't take credit cards payments, and I have yet to lose a sale due to that fact. Many industries don't have that ability this day and age, such as retail or restaurants.
Loquacious_Dragon 6y ago
They can keep it off the books and avoid paying tax on it.
driticool 6y ago
so that's probably pretty USA specific huh?
Loquacious_Dragon 6y ago
No, pretty much anywhere that accepts cards and cash and has some form of taxation on the sale of goods.
It should cover all of Europe and more developed parts of the other continents.
driticool 6y ago
Alright, very interesting info, thanks. But this is probably not worth trying on stuff below like 500$ huh?
Isbjornsolo 6y ago
It’s worth trying on everything. Especially if you’re bulk buying items. Works best at family businesses. Cash is king and it isn’t seeing their books if you have notes.
ExFavillaResurgemos 6y ago
This is the kinda intelligent shit I subbed for. People on the outside moan and wail about red pill being mysoginy and toxic but this stuff is all about how to be as successful as possible in whatever you do.
Stron2g 6y ago
Well, a ton of people think red pill is about pursuing women when in reality it's centered on exposing truth on gender dynamics and how to maximize success as a man today.
Smps and feminists consider this misogynistic because it counters their agenda
RevolutionaryPea7 6y ago
The best way to save money is to limit your consumption. Far too many people buy things like watches and specialist equipment as consumables. You should consider everything apart from actual consumables (think food, underwear, brake pads) as non-liquid assets. Poor people have an incredibly hard time to grasp this concept. The most stupid people out there even consider cars as consumables. But they are not, they are assets.
Once you have adopted that mindset what you need to consider is depreciation. Some assets you won't care about depreciation because you need them. Think tools. Buy a good tool and it's yours for life. Some you care because it's a hobby that you might get bored of. Think musical instruments. If you're sensible you'll buy a second hand instrument, take care of it and if you get bored just sell it for the same price you bought it.
High end clothes and shoes sit in the tools category. If you buy stylish clothes there's no reason not to keep them for life. Watches are probably more like musical instruments.
If you have to consume things, always look to cut costs wherever you can. But if things are assets, consider their depreciation instead in case you need or want to liquidise.
Isbjornsolo 6y ago
Solid points.
I have bikes & ski equipment that I’ve had for 10 years and still are great to use. They are tools for my hobbies.
I consider all luxury purchases as things I don’t need. Once you’ve got a solid financial base you can splash some cash now and then. But it shouldn’t be thing you do once you start on a decent salary.
There are a lot of things people get fucked over with on finance on. One is employed people vs company owners on acquiring assets/items. The monetary differential on this is ridiculous.
ebaymasochist 6y ago
You're close but vehicles are liabilities for most people, not assets. They need insurance, maintenance, registration, fuel, etc. And depreciate. If you drive for a living, maybe it's an asset, or you have a dump truck that produces money, yes. But if it's not making you money, and it's costing you money that will not return, it's a liability.
Most people should limit their liabilities by buying used like you said.
RevolutionaryPea7 6y ago
If you can stop paying for insurance, tax, fuel, maintenance etc at a moment's notice then it isn't a liability. The thing that usually makes cars a liability is buying them on finance. I have a car but I could realistically put it on the market tomorrow and immediately stop paying for it. So for me it's a pure depreciating asset, not a liability.
Batman-von-Pepe 6y ago
Same, in all the accounting I have done we put vehicles in the long-term asset category and get the current value by tracking the accumulated depreciation (also under the asset account).
brofessor1901 6y ago
Everything in life is negotiable. You set the standards of what is acceptable.
Geleemann 6y ago
this will not, and doesn't work in Australia
Isbjornsolo 6y ago
Well at least you have Kangaroos.
YellowJulius 6y ago
Where are you guys negotiating price on retail outside of bootleg markets? Genuinely curious
Isbjornsolo 6y ago
Jewellers Independent clothes/shoe shops DIY shops when you're buying multiple items. High level sport shops (of they will throw in some free stuff (Ski wax etc)
Any family business in your area.
You don't know if you don't try.
Yourmamasmama 6y ago
Just a reminder that this does not work for higher end watches. Do NOT try to haggle at a Patek Philippe.
Nicolas0631 6y ago
But that's not a problem as such thing are a waste of money and not an investment.
Buy a $500 watch instead and you save much more. This isn't like any of these watches have any useful feature that a $100 watch or your smartphone doesn't have.
Yourmamasmama 6y ago
A watch of any price is a complete luxury. If frugality is the main concern, a watch should not be bought.
Isbjornsolo 6y ago
You have to be on a list for those ones in the first place.
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Nicolas0631 6y ago
This. Most often if you can negociate at the local shop, chances are it is sold cheaper somewhere else. maybe even online.
superobsa 6y ago
red pill is for mating strategies. everyone keeps trying to make it a religion or something. just because a tool works doesn't mean it is good for everything.
red pills only rule when it comes to finance is don't spend money on women.
godsbestgift 6y ago
The red pill is first and foremost sexual strategy to get women but actually swallowing the red pill in the matrix? Its to see the truth of the world and seeing how deep the rabbit hole goes. The red pill is about becoming the best, most competent male you can become. Do this and your women will not leave or cheat on you easily. Handling a social situation to acquires goods to raise your appearance? yep its trp related. Its a short, sweet, effective post.
Isbjornsolo 6y ago
Then don't use what I've written.
Ill_mumble_that 6y ago
I like posts like these because life isn't only about women.
glumbum2 6y ago
Thats what always gets me about trp... True conversion actually means making women simply a part of a greater whole. That's the real win. Not just success with women, the ability to stand upright no matter what.
OSaraiva 6y ago
Social strategies apply in social contexts. Negotiation is a social context.
alchemical_rage 6y ago
When comments that state RedPill is all about women get upvoted, it’s clear that this sub is turning into something that was not supposed to.
ImAnNPCbabydududuDU 6y ago
Correct me if I'm wrong, but from what I've gathered it's about your mindset, having an abundance mindset. That doesn't mean just with woman, but also career(for example get to a position where employeers are fighting over you to work with them), same with social circles.
scriptkiddie1337 6y ago
It's a tool. How you use it is up to you
superobsa 6y ago
It is what it is. What you use it for doesn't change what it is.
[deleted] 6y ago
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DF-RP 6y ago
Funny how the sidebar reads:
Someone should let the mods know that the sidebar has been hacked.
[deleted]
Isbjornsolo 6y ago
You missed the point of what I was trying to explain. Go back and try again.
[deleted]
Isbjornsolo 6y ago
I'm not giving savings advice. I'm giving purchasing advice.
If you were buying the product anyway? Would you prefer to pay full RRP?
Again read the post. I mention in the first paragraph this is to be applied once you have your investments, savings etc in place.
Well done on basic arithmetic, of course if you spend more than you earn you'll be fucked.
The next time you go to buy anything, just agree directly with the first price the salesmen says and hand him your hard earned cash. He may even kiss you before he fucks you.
twy3440 6y ago
This is great advice. Like buying a new car at the end of the month when they are desperate to hit quotas.
monsieurhire2 6y ago
Well, you saved money.... but you spent extra time, and while you can trade your way to more money, you can't obtain more time very easily, aside from trying to live as healthy as possible, which only buys you a limited amount of time.
Of course, maybe the elites will roll out "Immortality," for astronomical prices, in which cases everyone will be taking out massive debt to buy themselves unlimited life, which of course, they'll have to work for centuries to pay off. This is actually just part of the plot to an extremely well written science fiction story I read many years ago.
But I digress.
It's fine to save money like you did, but you did trade time. Of course, if you can optimize this, it may wind up being worth it.
Just something to think about.
Isbjornsolo 6y ago
I’ll have some of whatever you’ve been smoking...
Immortality is something I have no interest in. 75 years of living the life I want and I’ll be happy to check out. Having done all I can.
Life is a trade off of doing things you have to and things you want to. Currently mine is shifted towards building something.
I think you’re reading too much into the facts I’ve stated. It’s a quick way to save you money therefore working hours. Or don’t spend the money (time) in the first place.
Everyone will make a couple of large purchases a year. If it saves them a few quid from 10 minutes of effort to write the piece. I’ll call it a win and putting something back into an forum where I’ve learnt more than I can repay.
monsieurhire2 6y ago
Well, I have done similar things, but then I found that I spent an inordinate amount of time in many cases.
On the other hand, being careless in purchases can also waste time, because then you have to go back and buy a better version of what you failed to buy correctly the first time.
MatrixofLe3adership 6y ago
Everything is a careful balance. That science fiction book sounds hilariously relevant.
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PepinoSF 6y ago
Unless you are nobility, magnate or celebrity, spending 550 pounds on perishble item is not red pill, but stupidity. This is not an investment item, just an ego boost to flatter your vanity
frenchfortomato 6y ago
I'm at least a few years away from being able to afford $500 watches, but I'm gonna agree with OP on this. Why you want something, or what it is, is irrelevant. I've gotten my best deals on beater cars using exactly the same mindset.
-Know what you want
-Don't be attached to any particular one
-Cash. First seller who bids wins the auction.
$500 luxury watch vs. beater car market makes no difference.
Isbjornsolo 6y ago
Watches last time I checked are not perishable. Again the point is the principle behind it. The watch itself doesn’t matter.
Also in certain business circles a nice watch can be a solid talking point leading to further business.
I’m not advocating for stupid financial spending.
It does flatter my own vanity and remind what I went through before I bought it. But if I lost it or it was stolen I’m financially stable enough to not worry about it.
Nicolas0631 6y ago
I don't trust 1 bit the further business stuff due to the watch alone. Many other factor are more important than having a watch that cost £550 over £100.
The thing is if you don't buy 1 thing like this watch every year and invest it, this will allow you to buy a small flat by the time your retire whom revenue will allows you to buy a watch like this every month...
That's what finance is about. I agree also that the goal is to be able to buy all the shiny/stupid stuff you want too, but it shall be a negligeable part of your income.
If you already put aside £5000 a month, then there no problem with the £550 watch.
PepinoSF 6y ago
They are perisheble. Most of watches stop working accurately in 4-5 years. Given the price yours is not premium, that will last for many years.
On other hand, the luxury items should match the owners income and social status. If 500 pounds are below 1% of your net income, then go for it. If your income is even higher, go for a beter brand, but otherwise you just look like new riche wannaby.
AnneStaz 6y ago
I deliver the line "is that the best you can do?" And it works pretty well
Tuplad 6y ago
As a salesman, I laugh it off and continue with my day. Usually, the douchiest people with the least amount of money to spend come up with the cockiest lines. In business, it's better to lose such customers and focus on the ones that are there to spend money, not the penny pinchers who've read online haggling guides.
[deleted] 6y ago
Or "are you able to be a little sharper on price?*
mikesteane 6y ago
A watch is not worth more than $100.
Mine cost $10 (cash) and I bet it says the same time as yours, after adjusting for the time difference.
Isbjornsolo 6y ago
Correct. You could say the same about anything. Value is what the owner determines it to be.
Negotiating for a watch is an example. The principle is what i'm trying to get across.
Ill_mumble_that 6y ago
But are your watch gears lubricated with he tears of little chinese children? I'll bet it is a made in china piece of garbage. Fuck China and their shitty products.
I'll pay $550 for something just to give China the finger