THE Y&FB BLOG

The Un American (Airlines) Way

Is it just me, or does American Airlines suck? I know business is tough these days, but AA seems to be trying to screw themselves over with just horrid customer service. Here's my story: I was flying from Fla. to NYC today when I got a call at my Fla. home telling me my 3pm flight was not going to leave until 6:30. While I was not thrilling to the delay, I was at least glad AA had its act together and gave me a ring.

That was the last time I will ever think kindly of American Airlines.

A few hours later as I am finally on the way to the airport for my delayed flight, I decide to give AA a call just to make sure we're still on sked to leave at 6:30. You can imagine how happy I was to find out the flight was now cancelled. Here I am, with a first-class ticket no less, and the knuckleheads had no sense to call me a second time to tell me of the latest change. I only found out because I called. Seems one courtesy call is all you get with AA.  I tried to remain calm and ask them what other flights I could catch. And this is where I nearly went ballistic; the customer service rep told me there was no flight tonight, or tomorrow, or any time. Seems that because they had decided to cancel the flight (mechanical problems, not the weather mind you) I was now simply on my own to figure things out.

AA had no interest in helping me. Look, I know problems happen, but what kills me is that they were so absolutely unhelpful. Deserting their customers when they have to cancel a flight seems like the perfect way to LOSE THEIR CUSTOMERS FOR GOOD.

Which is what has happened with this customer. I guess my mistake was giving AA a chance, when my gut told me to stick with Jet Blue. I love Jet Blue. Talk about great customer service! So from now on, I am no longer a flag-flying American Airlines customer. I will never fly with AA again.

College Daze

I walk out in front of a room of future MBAs, accountants and business types the other day and ask them if they know what a FICO score is, what THEIR FICO score and where the hell to get it.

I get a room of blank stares. Oh sure, they know all about GDP, the Fed Funds rate and the U.S. trade deficit, but they don't know a damn thing about their personal financial life.

If you ask me, every college and university that is not teaching basic personal finance -and making it a requirement for graduation-is doing a crappy job of preparing its students for the real world. And isn't that a big part of what college is all about?

I have news for you, an intimate understand of GDP is not going to help you out in life one iota. Trust me. Same with most all economic terms, trends and data points. Nice info if you want to bore everyone at a cocktail party, but absolutely useless when it comes to living your life.

I would love to know if any of you had any course, or seminar, in college that taught you anything about financial info that has a huge impact on your future. Did anyone teach you about your FICO score, how to deal with credit cards, and god forbid, how to handle your student loans once you are out of school? (Did anyone tell you that consolidation is damn smart, especially the past few years when interest rates have been so low?)

And while you're at it, let me know the three financial lessons you wish someone at school had taken the time to teach you. Something that you had to figure out on your own much later, or something you are still clueless about. I want to know exactly what you think you could have learned in college that would have made your YF&B years easier. I promise that I will make sure your questions get adressed here, or at my website .

This is Your Blog YF&Bers...

I am absolutely loving my first few weeks of blogging; it's no secret I've always got plenty on my mind that I want to share!

But what would be absolutely great is if you would tell me more about what would make this blog work for you. Feel free to be blunt. I want to know exactly what you are interested in-and what you could care less about-so I can make this blog fun, interesting, and useful for everyone who is Young, Fabulous and wants to get past Broke ASAP.

So come on, click on the comments link below, and let 'er rip. Tell me what you want to see in this blog.

Stolen Identity

Seems like we can't get through a week without news that there's been yet another breach of our financial and personal data resulting in yet more ID theft. The latest breakdown was the admission by ChoicePoint, a huge data compiler--and seller of that data-that it had forked over info to ID thieves.

Congress is acting absolutely shocked about all of this,which is laughable given what a huge problem this has been for a very long time. (ID Theft has been the #1 consumer complaint at the FTC for the past few years) Yet only now that it seems some members of Congress have discovered their own data has been breached, does it become the cause du jour in Washington.

Look, I hope Washington does take a serious look at this issue and comes up with ways for consumers--you and me-to gain protections against all this freewheeling sharing and selling of our personal financial data.

But I ain't holding my breath. In the meantime, the best way to deal with the ID theft epidemic is to constantly check your credit reports to make sure there's no sketchy data showing up; that's a tipoff someone may have stolen your financial identifying info and is masquerading as you. A new federal regulation is being phased in throughout 2005 that will allow all of us to get a free credit report from each of the three main credit bureaus, once a year. Don't get all three at once; its smarter to get one report every four months. That way you're consistently checking up on your record.  Check to see if free credit reports are currently available in your state.