If you ask for a lower price on something, the worst they can do is say no

Everything is negotiable. You just need to work up the confidence to ask for a better deal.

Three of my friends are getting married over the coming year, and, as my colleague Weston Blasi knows all too well, attending weddings can really get pricey.

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My fiancé needed a suit for the upcoming celebrations, so we went shopping. The gorgeous charcoal-gray number the salesperson picked out for him was $899.

It looked great, but we asked if my fiancé could also try on some suits that were on sale. I mentioned that I would be paying for the suit as a birthday gift and was hoping to stay within a lower budget. The store didn't have anything in the same color on sale, but the salesperson said he could sell us the original suit for $500 - shaving nearly $400 off the price on the tag, just because we asked one simple question.

Since he offered such a steep discount, I assumed that the price had likely been marked up significantly. And after gladly accepting the 44%-off deal, all I could think about were other customers who had paid the full amount because they might not have known the price was negotiable.

The experience was a good reminder: Prices are not always set in stone, even if they appear to be. Sometimes you just have to be willing to ask for a lower price.

Money tip of the week: Ask for a better price - even on rent

I love bargaining. Going back and forth with New York street vendors to save a few bucks on sunglasses or a designer bag gives me a rush. I've successfully negotiated for a cheaper plan with my internet provider. And on retail apps such as Vinted, I always offer a lower price instead of paying the list price and have found that the seller typically agrees or makes a counteroffer.

Working as a waitress in college and then as a journalist has helped me overcome a lot of the anxiety that can come with negotiation - soothing hangry diners and combative sources has given me thick skin.

The worst they can do is say no.

But even I still get nervous sometimes when asking for a deal, feeling like I have to physically swallow my nerves just to spit the words out. Reminding myself that the worst they can do is say no helps me build the confidence to bargain.

"Sometimes you just kind of have to power through the clamminess and the shakes and the racing heart," said Matt Schulz, the chief consumer-finance analyst at LendingTree, who wrote a book on the topic. He recommends writing down a few sentences laying out how you plan to kick off the conversation, and finding a friend or family member to practice on. "It can really help," he said.

Clothing stores, furniture stores and car dealerships may be among the more obvious places to make a deal, but there are some other negotiable goods and services that may be less well known. Here are a few:

Rent

Yes, you can try negotiating your rent. It doesn't always work - and your chances are lower if the apartment is in a hotter rental market - but it's always worth asking. Even a $50 monthly reduction would save you $600 a year.

When you ask, highlight any information that shows your value as a renter, such as a history of on-time rent payments, a good credit score or references from past landlords. If the landlord says no, proposing a longer lease (like 18 or 24 months) in exchange for a lower monthly payment might sweeten the deal. If they're still not budging, you can request other concessions, such as a discounted deposit, free parking or a waived pet fee.

If you receive a rent-increase notice when it's time to renew your lease, negotiating that down might be even easier. If you're a good tenant, and a landlord thinks you might leave because of the higher rent, then they could choose to reverse course to avoid the hassle of turning over the unit for a new tenant.

Here's a template that I suggest using the next time your landlord raises your rent, which can at least open the door to negotiating:

Thank you for sending over the lease renewal terms for [property address]. I love living here and have really enjoyed making this my home over the past [length of time]. I've consistently paid rent on time and taken great care of the space. Given my strong track record as a reliable tenant, I was hoping we could keep the rent at the current rate of $[current rent amount] per month for the upcoming lease term. Please let me know if you are open to renewing at the current rate. I'd be happy to sign a new lease right away.

Gym memberships

When signing up for a gym membership, don't just accept the first monthly price they give you. Come prepared with a lower one from a competitor and ask them to match it.

Going at the end of the month - when the staff may be trying to hit a sales quota - can work in your favor, too. If the gym is part of a chain and they tell you that corporate policy sets the monthly rates, then ask if the sales rep or manager can waive enrollment fees or annual fees, or even offer free personal-training sessions or guest passes.

If you've made your target price clear, have spoken to a manager and are still being told no, it's OK to walk away. Some gyms may call or text you within the next few days with a better offer to close the deal.

Medical bills

Before paying medical bills, contact the provider and ask for an itemized bill that contains current procedural terminology, or CPT, codes, which are basically the lingo and the coding that the medical industry uses. You can google the codes to make sure they match the care you actually received. Bringing any discrepancies - which are more common than you'd think - to the provider's attention can be a good way to open the conversation for negotiation. You can find more about negotiating medical bills in a July edition of Don't Short Yourself.

Credit-card APRs

If you're likely to carry a balance on your credit card, then lowering the interest rate on that debt can significantly cut your borrowing costs. Similar to negotiating rental costs, highlight your strengths when making the request: You pay your bill on time every month, or maybe your credit score recently increased, or you just got a big salary boost.

College tuition

The financial-aid package you receive from a college or university doesn't have to be final. Contact the school to appeal the award and include any information about your family's financial situation that may have changed. You can also let them know about a more generous award received from another university to have a starting point for negotiations. My colleague Beth Pinsker compared shopping for the best financial-aid offer to price matching at retail stores: "Some schools will do it, some won't. The more selective the place, the less likely they are to negotiate." Here's Beth with more info on negotiating college costs.

Remember, price tags are often just a starting point, not a final verdict. Your bank account will thank you after you push past the initial nerves and make the ask.

I'll catch you in your inbox next week. Until then, don't short yourself!

Prenups: Practical, or preparation for divorce?

Next week's edition of Don't Short Yourself is about prenups, and why they can be a smart money move for both parties - even if you're not rich. And while I'll admit that hiring an attorney to discuss money before saying "I do" isn't exactly a romantic gesture, I'll get into all the ways doing so can be invaluable.

For now, send me all your controversial opinions on prenups. Do you have one or plan to get one? Did a prenup help you through a divorce? Is there something out of the ordinary that you requested in your prenup? Email it all to me at dontshortyourself@marketwatch.com. Your response could make it into next week's newsletter.

Key money reads

- This generation of renters expects to be locked out of homeownership forever. Sound familiar?

- Americans don't believe working hard guarantees financial success anymore, and these 3 charts show why not.

- What's worth streaming in September on Netflix, Hulu, HBO Max and more - and which services to consider putting on pause.

- A reader asks: My friend's charging an $80 cover for her 30th-birthday party. Is it rude not to go?

Reader tips

Send us your favorite way to save money - or make your money work for you - and we'll share it with our readers. Send it to dontshortyourself@marketwatch.com.

About Genna

I'm Genna Contino, an award-winning journalist on MarketWatch's personal-finance team. I'm 27 years old, originally from South Carolina, and currently splitting the rent on an overpriced apartment in New York City with my fiancé. When I'm not writing about my hack for saving hundreds of dollars on airfare, or the four must-have money conversations before moving in with your partner, you can find me reading a celebrity memoir, overanalyzing reality TV, junk journaling, borrowing DVDs from the library or getting thoroughly humbled in an adult ballet class after a 10-year hiatus.

-Genna Contino