Todd PolkeInvestment Strategist l Wealth Coach l Speaker, Todd Polke · Investment Strategist l Helping Investors and Business Owners grow their Wealth Faster

The best way to get #discount is to #ask! #shorts #investing #wealth

9 May 2023 · 1 min

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In this short motivational clip, the speaker urges viewers to actively negotiate lower interest rates on their debts rather than passively accepting high rates. He illustrates the point with a story about a person named Rodney, who regularly calls banks, spends about two hours each time, and has saved roughly $16,000 in reduced interest plus $3,000 in cashback—nearly $20,000 total—through simple negotiations. The speaker emphasizes that complacency kills financial dreams, encourages moving high‑interest credit‑card or personal‑loan balances to lower‑rate debt, and drives home the core message that the best way to obtain a discount is simply to ask the lender.

Chapters

Every time the banks increase the rate, Rodney picks up the phone and negotiates it. 2 hours each time. But what's the discount on your interest rate right now compared to what it would be? Do you know? $16,000 plus $3,000 cashback. So that's almost $20,000 in savings, 2 hours' work. And he does that at work. And he does that at work. Pull your fingers out, right? Complacency kills your financial dreams. Stop being complacent with your money. It's your money. Would you prefer it in your back pocket or prefer it in the bank's? If you've got high-interest credit cards or personal loans and you've just been sitting there paying 20% per annum interest, you always want to be migrating that high-interest rate debt into low-interest rate debt and negotiate. The best way to get a discount is to? Ask.