Eric the Red

So I was at Best Buy today trying to activate a new line on my family plan. The phone was a motorola V385.

Those who know me well are aware that I have used every cellular service offered in my area, and to date no network has matched the coverage of Verizon for my purposes. You may disagree, and thats fine. I welcome any experiences on wireless coverage.

So back to the activation…..the Best Buy sales associate collects the relevant information, scans the ESN on the phone….and is answered with a big blaring warning “Unknown ESN or phone not E911 complaint”

Best Buy rep calls Verizon support, with the same result.

So how can a network that calls itself the most reliable be unable to activate its own phones? Amazing! Now I get to make two trips!

Is this bear-stearns bailout just the tip of the iceberg that sinks the economy? I think so. That’s why I decided to put together some words of wisdom about personal finance I hope many of you will take to heart.

1. Always have 4-8 months salary in the bank, earning interest. I recommend ING direct. CDs are in the low 5% range, savings accounts are in the upper 4% range.

2. Never touch what is in (1) unless its an emergency. Note that a plasma TV and a house is NOT an emergency.

3. If you think you deserve something, you don’t. You don’t deserve Prada, you don’t need an iPhone or an iPod. You dont need Gucci, you sure dont need a new car if your current one works fine.

4. Never buy a house with less than 15% down. 20% or more is ideal.

5. You will get farther in your life spending modestly on a house and saving your money that you will by maxing out your income and credit cards on one that is 10x your salary. Buy the cheapest one you can get your hands on and pay if off as quickly as possible.

6. Avoid credit cards like the plague. Use them for large purchases, plane tickets, internet shopping, etc. Never buy something if you dont have the cash in the bank to pay it off immediately.

7. If you buy a house with an ARM, you will lose an arm….and a leg.

8. Unless you know them personally (and even if you do), real estate agents and mortgage brokers are trying to make you pay top dollar for something thats probably par for the course. Don’t fall for it. Ditto for car salesmen. They all get rich when you make yourself poor.