I have never done layaway. I have a friend who has used the service frequently over the years. When we were 16, she used layaway to pay for a leather jacket she wanted.
This is the same friend who recently choose to take out a 401K loan! And she is using layaway for holiday gifts this year. Her tweens are getting small tvs and dvd players for their rooms! Ugh.
It seems layaway is used instead of credit cards, right? So that one can pay over time to make a larger purchase. I don't think there are fees involved. Correct me if I am wrong.
Let's just say I'm not a big fan of layaway. I feel you should save your money over time to make large purchases, especially holiday gifts. Christmas arrives the same time every year!!
What do you think of layaway?
What Do You Think of Layaway?
November 11th, 2009 at 05:45 pm
November 11th, 2009 at 05:55 pm 1257962118
November 11th, 2009 at 06:36 pm 1257964578
November 11th, 2009 at 06:44 pm 1257965052
The two aren't always mutually exclusive.
Perhaps the items is at a rock bottom price and/or if one waits until they have saved the money, the item will no longer be readily available. That does happen around this time of year especially.
November 11th, 2009 at 08:55 pm 1257972949
My sister told me a story this summer of putting a coat (that my parents wouldn't buy for her) on layaway as a teen. She worked hard, paid it off. . . and discovered that the coat wasn't very warm.
I'm not sure it taught her much about the use of credit, but I think she learned about thinking through a purchase.
November 11th, 2009 at 10:40 pm 1257979227
That's true, they may not always be mutually exclusive.
November 11th, 2009 at 11:47 pm 1257983238
There were some people who would put stuff like toothpaste and deodarant on layaway 10% down then cancel the next week for a full refund of there payment to put something else on. They wanted to shop but had limited money. Also if someone wanted to think about that great deal without having to worry that it would be sold out if they did not buy it right then.
Another thing I noticed is that it was nice for Parents; someone could come in put something on layaway while the child was distracted with daddy or mommy and the next week you could pick it up and it would be all boxed up so noone would know what was bought.
November 12th, 2009 at 12:12 am 1257984749
I am also probably rather clueless about the practice because our parents never used it?
November 12th, 2009 at 02:05 am 1257991542