Courtesy:PixabayA hidden income toolbox may contain many skills, but the skill we are talking about will help you either make more money or cut costs.

Negotiation skill is one of the best tools of your hidden income toolbox. The more you are experts in negotiation the more you can earn money as well as save money too. Many of us do not care for negotiating at the time being involved in the investment of shopping. As a result, we are losing handsome money every year. We must know how to avoid income risk? as well as mapping strategy for controlling money.  

We will provide here the definition of negotiation in income, secrete role of it in income, and how to implement it realistically. However, we will give some examples for your better understanding. 
  
What is negotiation? 

Negotiation technically in income is a process of bargaining between two or more parties and reaches an agreement. For instance, you are a consumer and want to buy a product let's say mobile. So you go to the mobile shop and ask the salesman about the mobile you like. The salesman showed you a number of mobiles and price plans and you choose to buy which one is affordable according to your usage.     
"Formal discussion between people who are trying to reach an agreement."
                                                                                                                             -Oxford English Dictionary
Secrete role of negotiation


Negotiation, on the one hand,  is helping us to find out some hidden charges made by various companies. For example, a mobile operator, an insurance company, a credit company and so forth. Most of us even are not aware of these kinds of hidden bills or charges. When we get a large number of bills at hand, then we get confused. Therefore, we should aware of unwanted changes in our everyday life. 

On the other hand, it creates freedom of choice in the income fields. For instance, a contact plan, an account, and in a job. As a whole, Negotiating in income mainly play two vital roles such as: 

  1. Create consciousness 
  2. Create freedom of choice

Firstly, you are a consumer and going to buy a mobile. If you do negotiate at shopping, you can be conscious of the product as well as the price. Similarly, it will make you conscious of the plans or any other charges. 

Secondly, we often notice on the job circular that the salary or wage is negotiable. In this case, if you have applied for a post and the salary is not defined but it is negotiable, so you have an opportunity to raise your salary as per your quality and demand. 

If you have gone through the above two roles of negotiation, you might have got your answer to making more money as well as cut costs. However, if you want to know more about income and its related things, you can have a look at the following links: 



How to get started? 

There are many ways of saving money in your daily life, but we will discuss here some important and most popular fields of expenditure. As a result, we chose here three fields to show you how to get started. They are as follows: 
  • Mobile Phone
  • Car Insurance 
  • Bank & Credit Card Fee


How to negotiate lower costs?

Cut your Mobile Phone & call costs

You should find a comparable cheap company according to your monthly usage. For example, if you are with T-mobile, so you should look for Vodafone or Three and compare their rates, minutes and other benefits. Make some notes and call your current mobile network provider and ask them what better plans they have for you. 

To make it easy we collected some numbers for you: 


Three
0333 338 1001
Vodafone
03333 040 191
02
0344 809 0202
EE
0800 079 8586
Virgin Mobile
0345 600 0789






If you find that the other network providers are offering the best deal. Then you should leave the current network provider and migrate to the new one. 

Save hundreds of pounds on car insurance

Most people pick car insurance once never look at it. But if can negotiate with the insurance company, you can save hundreds of pounds each year. Please follow the process: 
  1. Coverage area 
  2. Current plan 
  3. Find some other insurance policy   
Firstly, have a look at the options and check which one would be right for you. Because most of us don't know which one will be suitable? Then, check your current policy. Finally, shop around and find a comparable and affordable policy. 


Negotiating with your bank

Banking is one of the part and parcel of our daily life. Most of us open a bank account and we do not even check some other banks and their packages. You should know that every bank has its own package for their customers. Apart from this, credit cards have also different credit rates. 

Nowadays, there are some banks in the UK, they have options for customers personalized plans. They can choose them along with the compulsory cores. 

So you have to choose some banks and compare their rate plans. You can do it online or go to the banks. We have some websites for you. You can browse and check them.  

The banks listed above are providing the best services in the banking sector. You may compare their services and rates. 

In some cases, if you are in a debt and finding a way of getting out of it, you could go to your bank and make an arrangement. A bank does not want to lose you because you have been with them for many years. So you should raise your complaint about pay off your debt. 


Conclusion


The above text has identified that negotiation creates a consciousness of the products and consciousness can help you to save a huge amount of money. So we should use this skill from our hidden income toolbox.