ThreeSixty -

By Thomas Birai

July 10th, 2006, was the most significant day marked on the calendar posted on my wall. On that date T-Mobile officially released the latest and hippest version of one of its most popular cell phones, the Sidekick 3.

The hype surrounding this cell phone was ludicrous. So was the pricing — $399 plus tax.

I wanted it anyway.

I placed it at the top of my birthday list, which was four days later. To my disappointment, I didn’t get what I so desperately wanted. Angry and frustrated, I asked my parents why. They gave me the obvious reason: the cell phone was too expensive.

I wasn’t going to allow a lack of money to keep me away from the 7-ounce, internal MP3, 1.3 mega pixel, swivel screen, Bluetooth enabled, QWERTY keyboarded cell phone. Not a chance!

Newly 16, I began to seek employment and, to my delight, found it rather quickly at Subway. After 70 plus hours, including a double shift of 13 grueling, backaching, tedious hours I received my first paycheck and went straight to the bank to cash it. Before I knew it, I was walking out of a T-Mobile store with my brand new Sidekick 3 cell phone, minus more than $400. Hard work and determination had gotten me the phone I craved, and it was well worth it. Or so I thought.

Fast forward to October 24, 2007, 16 months later. I still had my Sidekick 3, but October 24 was the most significant date on that year’s calendar. This was the day that T- Mobile would introduce its latest version – the Sidekick LX. Of course, I wanted to upgrade to the new model, which had high resolution, larger display and a thinner, sleeker design, making it o, so sweet.

The price — $426 — was not so sweet. Once again, with my eyes set on the prize, I put in 56 hours at my new job at Target. I also sold my old phone for $150.

Payday finally came and after school on November 2, I went immediately to the closest T-Mobile retail store to acquire my new eye candy — the Sidekick LX. I now had the coolest, sleekest, hippest, hottest model.

But again I found myself minus $426. My parents said only that I shouldn’t spend so much money on new electronics and should save rather than spend.

That’s when reality hit me: I am a compulsive Sidekick fan. I am usually able to avoid spending money, but when it comes to the Sidekick cell phones I can’t seem to control myself. Over 16 months, I have rewarded T-Mobile handsomely. Great for them. For me not so much.

A lot of high school students can’t control themselves in one area or another. Whether it’s wanting the latest shoes, clothes, movies, electronics, books, we each have something that we love to indulge in. With college in sight, this should be a wake-up call. It’s ok to indulge in your fad once in a while, but I have found it’s pointless and a waste of money to try to keep up with the latest.

According to a Newspaper Association of America study, teenagers spent a record $179 billion in 2006, an average of $107 per week. Some 56 percent of teens have a savings account, and 13 percent own stocks and bonds. But we need to save more.

Chris Farrell a financial specialist who works at Minnesota Public Radio, said in an e-mail interview that teens should save “to develop good financial habits. Making savings a habit will benefit you greatly when you get older. Another major reason for teens to save is to help pay for their college education.”

Farrell advises us to set up an automatic withdrawal of money from each paycheck into a savings account or money market mutual fund. “Once you set it up you don’t have to do anything, but the money, perhaps only a few dollars every month, goes into savings,” he said.

Even $1 a day means you’ll have $30 saved at the end of a month, or $365 over a year, and more than $1,400 during the four years of high school. The key to successfully save is to put the money in a place that can’t easily be accessed, so that you’re not tempted to go out with your friends or buy a new TV series.

All this is easier said then done. I attempt to save something from every paycheck, but always end up buying something — the new Dallas Cowboys jersey, a new Xbox game, or a new phone. My new Sidekick LX has been taking me to hell and back. Here I am with this outstanding cell phone that a lot of my friends envy, but I can’t even pay the bill.

I always find myself rummaging around for money around the time the T-Mobile bill is due. I never seem to have sufficient funds for it, and it usually leads to termination of services. Despite not being able to pay the bill I still like the way it portrays me to others.

Numerous times when I’m using my phone my friends will say something like “Damn Thomas! Is that the LX ? You got dough.”
Those type of comments make me feel like I do have a lot of cash and can buy anything I want even though I only make $8 an hour in a part-time job. Sometimes my peers’ comments push me to trying to keep up with the latest fads so I can continue being viewed as someone with money.

Writing this article opened my eyes to how bad an impulse shopper I am. I set up the automatic deposit into my savings account that Chris Farrell recommended. Now every pay period, $30 will go into my savings account. If I do encounter another phone bill problem, I will have money in the bank ready to go. I hope I can control my money usage so that I don’t have to take out my savings.