Don't Put Payments On Layaway
Layaway plans may offer cheaper credit, but they still require you to pay something extra.... just like credit card interest. Whether you're using a layaway plan or paying off a credit card, you're spending more money than you need to.
Layaway might be worthwhile for some people if it were free, but it's not. There's a service fee for initiating a contract. And if for some reason you want to cancel the contract, you can expect to pay another fee.
Putting a product on layaway also prevents you from taking advantage of any sales that may come along. Kmart's layaway program, for example, only allows customers to receive one price adjustment for an advertised item on layaway, and it must be requested within seven days of initiating the contract.
In almost every case, it's more practical to just set the money aside yourself and purchase that new TV when you've saved up enough cash. It's not worth paying fees to a store just so they can hang on to your stuff and money, while you pay for it in installments.
Comments: 1
Hi Howard,
Years ago, I worked in Bloomingdales, just to get the discount. I put everything on layaway, as they would hold your items for 3 business days. Now they don't have this program anymore.
Just as well, because, when I worked there, I spent all my money.
I must admit, however, that I did get some beautiful clothes, and we did have a 20/20 sales promotion every so often. So you would wind up with 35 percent off your purchase.
My best aquisition was a pair of cobra boots, that still look beautiful today. I only got 20% off these, but I'm so glad I bought them.
Ok now here's another subject:
Please get Kaity a new chair. After all, you can work your magic for other people. She looks so tiny on her new set. I know you can do this Howard, so please, make her comfortable where she works.
Thanks so much,
Lee