When it comes to your money, lots of people want it.
Robert Krughoff, publisher of "Consumers' Checkbook," says it’s the power of competition. All those businesses simply want your business, and that gives you the power to find the best deals.
"The power of competitive bidding, the power of competition, is your power as a consumer,” said Krughoff.
If you’re getting a price on, say, some new carpet, call around. Make sure you tell each potential bidder all the specifics.
"You have to be very precise,” says Krughoff. “You have to do your homework in advance so they know exactly what they're bidding on so they're all bidding on exactly the same thing."
One important point, that may give you a competitive edge, according to Krughoff, is to always remain polite and courteous.
"You can be as gracious as you want, it doesn't have to be confrontational. It doesn't have to be eyeball to eyeball negotiating that price. People don't want to do that. So, just offering them the opportunity to bid," said Krughoff.
