Layaway: An Old Fashioned Idea
I did a search recently to find out how many stores still offered Layaway. Layaway is something that harks back to the bygone years where people didn’t use credit as much for their purchases. It is a great way to get something that you can’t afford in one paycheck while saving money. You normally would end up paying from six to thirty percent extra if paying by credit, and it would eat away at any potentially savings you were lured into the store in for! I remember doing this at a hobby shop when I was a teenager. In fact, there were several stores that offered it, but nowadays, I couldn’t really think of on.
The only national chain that still offers it seems to be Kmart. If you have at least 10% to put down, the Kmart Layaway for the Holidays program might be something you want to look into. It is easy, because you don’t have to have a certain income, credit score, or age to qualify. Many items are eligible and you can spend for Christmas with a little more of a frugal mindset. Here’s how it works: 1) Select the item. 2) Go to the Layway Counter 3) Make a payment at least once every two weeks 4) Pick up your item when you are able to make your final payment. Sounds easy, right? It is really that simple. I predict that Kmart is going to see an uptick in sales because people are able to do this.
So, save your spontaneous, rainy day cash for that vintage coat you have to have and pay over a couple of weeks for the new window treatments, blender, or toy the kids have been hankering for. Happy hunting.
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