This past month, I was busy settling my various accounts. Since my budget was tight, I decided to practice what I had learned in one of the trainings I attended before: Negotiation Skill Training.

FIRST PRACTICE

Not a long-time ago, I discovered that I have to file a Real Property Tax after we moved-in in my house. What naive I am to assume that I should only do that after paying my housing loan in full and I get the title. I was not informed earlier either by the sales agent or the developer. Hence, when I get to know about it, the penalties already scaled up. Last year, I requested the developer with a copy of OR for the last payment since it is a requirement for settling it then. The staff promised to call back when it will be available. Alas! She didn't called me up and it was buried in my memory of forgotteness. And when the bank requested for it this year, that's the only time that I get back to the developer. They promised again to call me up when it is ready for pick-up. This time, I made sure to do follow-ups. But, now, the charges plus penalties already ballooned up to P26K. Whaaat? Obviously, I don't have budget for that. Hence, I decided to negotiate. After minutes of talking and persuasion, the developer representative agreed to pay the charge and penalties for one year which is P5K plus. Not bad!

SECOND PRACTICE

My bank loan for H&L is subject for re-computation every year. This year, the interest rate scaled up from 11.75% to 12.5% per annum. Sometime in the past, I read somewhere that if you are dealing with the bank, do not just agree with what the bank offers because there is always an allowance for every bank dealings. Remembering that, I wrote a letter of request for interest rate adjustment. I requested to retain the last year's interest rate since there is a global economic crisis which somewhat affects my financial standing and cost of living. I faxed it and made sure that it reached the right person. Last month, I receive a letter confirming that my request was granted! Hmmmnnn... what a benefit in exchange to a minute composing the letter!

THIRD PRACTICE

I have two credit cards. One that I used frequently buying groceries, paying bills, etc. and another one just in case of emergency. The one that I frequently used has a better interest program than the latter though the latter has a bigger credit limit. I decided to cancel the second CC since I need now to pay a yearly renewal fee. I dialed their hotline and request to cancel my account unless... they are willing to waive my annual renewal fee even just for this year. They agreed but I should register in their online account inquiry. Just like that and I saved P1.2K plus of annual fee.

Well... What I am trying to convey here is that: "you can save a lot of money by just practicing your negotiation skill." That's the beauty of negotiation. You can put yourself in a win-win situation. It also applies with business dealings, I guess. And, I will prepare for that when the right time comes.