How a Savings Account Can Boost Your Negotiating Confidence
Saving money often feels like a sacrifice that you must make in order to benefit yourself in the future. It’s true that saving now means more security when you need it later, but there are some benefits to saving. First, it gives you some freedom and confidence when it comes to your career.
If you hate your job, having an emergency fund means having power . You don’t rely so much on this job for survival – you have a cushion and safety net to lean on, which gives you some freedom to look for a better job. Likewise, saving money in general gives you the confidence that you are asking for more. The Money Free to Pursue website explains:
Reducing our sense of lack by accumulating personal savings, or what I like to call liquid courage … is thus reclassified as “want”, and “want” can magically be reclassified as “it would be nice” …
When we categorize every potential acquisition as “would be good,” it means that we know that we have the ability to withdraw from negotiations at any time. When we negotiate “it would be nice,” we use logic and hold back most of the emotions — those things that make us act stupid and unpredictable. This transforms us from bums to bargainers because we become more patient, self-confident, and less likely to seek a quick solution.
It makes sense. Harder to negotiate. You need this job, even if it pays less than your professional value. You are more likely to say yes when you have a low score, and less likely to ask for more at the risk of missing out. To learn more about this idea, go to the full post at the link below.
Here’s What Kills Our Ability to Negotiate – Part 1 | Free to chase