The Lure of Layaway

I like that some stores still offer layaway or are reviving it ["Layaway Programs Come Back Into Style," usnews.com]. With so many people in credit-card debt, this is a good alternative solution. The major problem stores have is that people will not finish paying for their layaway and then maybe the item has gone on clearance or is out of stock in the store, and they could've sold this item for full price to another customer.

Comment by Heather of MI

For parents, Wal-Mart layaway was our friend! I would go after the middle of October, especially the day after Thanksgiving, and put all of my children's items for Christmas in the layaway. I think I spent more money at Wal-Mart that way than I do now just outright buying. It is especially great for parents who don't make a lot of money. This way they are able to stretch out their budget over a period of time.

Comment by Kim of TX

The layaway program was great for our family because it helped me organize my shopping. It was a way to store all of the gifts before Christmas, and, quite honestly, it helped us financially. I do think, however, I spent a lot more on Christmas. I would just go crazy shopping, especially since it was only 10 percent. But Wal-Mart has lost a lot of business now that they have done away with their layaway.

Comment by Sabrina of FLA