Holiday Blog

By sunny

November 17, 2008 12:38 PM | Link to this

I think stores SHOULD go back to offering LAY A WAY. Lay a way has help a lot of people in the past I THINK IT IS A GOOD IDEA.

By David S

November 17, 2008 12:45 PM | Link to this

When my wife and I were first married 23 years ago we did not have enough money to purchase a new television. We went to the store, found the TV we wanted and put it on layaway. There was nothing unusual about this nor embarassing, nor demeaning. It was the PROPER and APPROPRIATE way for someone without extensive credit to buy something. The TV was on sale, so we wanted to take advantage of the sale, but we were both unwilling to pay the high interest rate on the credit card (yes, my wife had one at the time), or subject ourselves to any additional costs.

The store was happy to get our business, happy to hang onto the merchandise, and happy to let us have it when paid for. It took us about 6 months, but when we brought the TV home it was OURS.

Too many in our society think that they are ENTITLED to be able to purchase whatever whenever they want. Too many think that they actually OWN something that they have bought on credit. YOU DONT. Somebody has loaned you the money for the purchase and they will be happy to sieze the item if you don’t pay.

Before credit cards, this was the way everyone bought expensive items. Thanks to the inflationary policies of the federal reserve and the treasury, aritificial amounts of credit were available to folks enabling them to buy stuff they didn’t need and couldn’t afford. Now we are seeing the affect of this policy everywhere.

If you save - yes, screw the government and save - then you can buy whatever you want when you want it. If you don’t save, then lay-away is the next best thing. See, the market can address the effects of the bursting government-created credit bubble. The market always has the solutions. But don’t criticize the free market because we really have never had one.

America needs to learn some finacial discipline and needs to learn how to postpone gratification. It makes for a healthy and properous nation.

By Lola

November 17, 2008 12:55 PM | Link to this

Well said Sunny. I too have used layaway in the past. I’m a divorced mother of two. My kids are grown now but when I divorced they were very small. If it had not been for layaway they never would have experience Christmas. I’ve also have used credit cards and am very sorry for it. I agree that if you want something expensive either save for it or don’t get it at all but if you just have to have it layaway is the best because like Sunny said once you get it out of layaway ITS YOURS!

By Jessica

November 17, 2008 12:55 PM | Link to this

I have used layaway once in the past and was grateful that it was out there. When I moved in my first apartment, at the time I was in college and working 2 part time jobs, so I could not possibly afford to get everything and put it on layaway. Now with bills and the economy out of control, I would definitely use it again for the holidays. They should always have layaway.

By Sugar

November 17, 2008 12:59 PM | Link to this

David S I agree with you 100%. That’s why I don’t have credit cards. IF we want something, we save for it.

LayAway is wonderful. I used to do it at Christmas when my kids were little. In August you could do layAway for Christmas. Helped with the cash flow too.

It is hard to learn to postpone gradification. Especially when you have taught your children, and they see their friends get everything they ask for. One of my daughter’s high school friends was given a fully loaded, top of the line Hummer on her 16th birthday. All the girls carry Coach purses, etc. I’m trying to instill patience in my kids, but they see their friends getting everything.

So we tell them, their parents probably have NO money in the bank, and are up to their eyeballs in debt. They see we live comfortably and they see we have plenty of money in savings, etc.

By Aimee

November 17, 2008 1:05 PM | Link to this

When I was in college I worked at walmart. During the summer I would get everything I need for my dorm room and school that year and put it on lay a way and make payments during the summer to pay it off before I went back to school.

After college I used the layaway for my daughters clothes for the upcoming season and Chirstmas.

I am not big on credit card usage unless I absolutly have to use them.

I am SOOOOOO glad that layaway is coming back. I will be shopping at stores that I normally dont in order to have the advantage of layaway. Walmart wont get much from me this year because of that.

Happy Hoildays Everyone,

Aimee

By KDH

November 17, 2008 1:31 PM | Link to this

David S, There’s nothing more to add as I couldn’t have said it better myself..

By Paula

November 17, 2008 1:35 PM | Link to this

Well said, everyone!

Aimee…I completely agree with you. Wal-Mart will not be seeing much of my money either. Maybe they will realize how much layaway helps.

By tye

November 17, 2008 1:49 PM | Link to this

I loved layaway. It worked out for me and I’m sure many others. I was shocked when I found out the stores were getting rid of layaway. You could get what you wanted, pay so much a week or bi-weekly til you paid it off and take it home. They need to bring back layaway for good. Layaway is GREAT It would especially come in good at this particular time. WALMART ESPECIALLY NEEDS TO BRING BACK LAYAWAY

By Tammy

November 17, 2008 1:53 PM | Link to this

Well said above but another thing I liked about layaway for Christmas was you could shop early before everything was sold out and avoid the crowds AND then ‘hide it’ in the layaway dept until a few days before Christmas. Now it seems like I spend more time looking for creative hiding places that my children won’t find than I do shopping for the items!

BTW, Happy Thanksgiving everyone!

By Mike D

November 17, 2008 1:56 PM | Link to this

I think my call girl should start accepting layaway. This market is tough and she should be flexible with her payment arrangements.

By diehard Obama/Biden fan

November 17, 2008 2:00 PM | Link to this

Wal-mart needs to bring it layaway back.. I would rather pay for something at a sale then at full retail price…….I am a big fan of layaway - you noticed since a lot of retailers phase out layaway they are crying lower than normal sales/revenue. I bet layaway was a big % of their sales.

By I Agree With David S.

November 17, 2008 2:02 PM | Link to this

I loved layaway as well. I used to use it a lot when my children were small to buy their clothes for the upcoming winter or summer. It was the best thing ever. I picked up what I could afford and knew exactly what and when I needed to pay. It was also how I bought my first TV. I hope they do bring it back. There are times now I walk into a store, wish I could put it on layaway but end up leaving items behind (which could be a good thing) because I cannot afford to pay for it up front.

By Linda

November 17, 2008 2:09 PM | Link to this

As a former employee of a store that used to have layaway, I can say that a surprising number of people will put items on layaway, pay a week or so, then never come back and never answer numerous phone calls in attempts to reach them. The items they put away are kept off the shelves for many weeks at a time while we send certified letters, etc. in trying to reach them. Meanwhile, there are people in the store who are looking for the items put away and can’t find them, so the people in the store go elsewhere and we lost many sales this way. All I’m saying is this: if you plan on using layaway, please be responsible enough to pay on your items and pick them up when they’re paid for. You’re wasting your own money if you don’t. If you find out you can’t afford your layaway, just contact the store: we would have been happy to know that we could offer those items to customers who were looking for them.

By c person

November 17, 2008 2:10 PM | Link to this

I Have used lay away, and was glad it was available Lionel Play World offered Layaway and that was the way my child received her christmas toys. All Stores should offer it.

By JP

November 17, 2008 2:14 PM | Link to this

I agree with David S. As a reformed credit spender, I prefer to purchase things with my own money and layaway is a good way to do that. It forces better money management. Sellers benefit too, by generating sales earlier in the season and helping them manage inventory better.

I have been buying a few items here and there since early October. Had layaway been an option, a store may have gotten more of my business before I moved on.

By A Fan of David's

November 17, 2008 2:30 PM | Link to this

At 42 years of age, I remember very clearly having birthday presents, Christmas gifts and school clothing purchased using layaway. My mother was a hard working single parent of 5 who used layaway when her paycheck didn’t stretch as far as she needed it to stretch. (Great post David!)

By Cash Basis

November 17, 2008 2:38 PM | Link to this

My sister and I were just talking about layaways a couple of weeks ago. It used to be the norm for buying things you couldn’t afford yet but didn’t want to get away. When I was in college I bought my interview suit on layaway and often bought Christmas presents the same way. When I walked out of the store I owned the merchandise and didn’t have to pay for something I was finished using. I hope this mode of payment catches on and helps people get out of thinking they have to have things now and pay later. Another idea that could be useful again are Christmas club accounts. Where you put money away all year and take it out just before Christmas and only buy what you can with your cash!

By Cash is King

November 17, 2008 2:48 PM | Link to this

This is a great idea to get cash flowing in our economy. One of the problems now is that purchasing has stalled and it has hurt retailers numbers and stocks. My Mom used layaway when I was a kid in the 70s for school clothes, Christmas and other large purchases. She did not want or use credit cards. Sounds like the old way is the new way. Once you buy it, it is yours and in the end you spend less b/c you paid the item minus credit card interest. Cash is king!

By SHERO

November 17, 2008 2:56 PM | Link to this

David S. I totally agree.

Mike D. you are a fool… I’m rolling on the floor laughing.. LMAO

By 30YearsIn

November 17, 2008 3:19 PM | Link to this

Cash Basis…Christmas Club accounts are alive and well at most credit unions…not sure about the banks. I’m a member of Credit Union of Georgia (formerly MACO), and have used their Christmas Club account for years. It’s such an easy way to be prepared for holiday shopping!

By Mike T.

November 17, 2008 3:21 PM | Link to this

I once put something on layaway at KMart. The lady in front of me was unloading her layaway items and the cashier accidentally rang up a package of toilet paper that was part of the lady’s regular shopping.

The cashier couldn’t remove the item without voiding the transaction, and the lady couldn’t pay for the toilet paper without paying the entire amount due on the layaway. I guess three months later she got her kid’s Christmas toys and a twelve-pack of Charmin…

I use my charge card for everything - not a “credit” card, a “charge” card. I have to pay American Express in full every month. No running up debt. If I overspend, I have a month to figure out how I’m going to pay for it and then I have to cut back.

By Professor

November 17, 2008 3:54 PM | Link to this

I do not use layaways. I once put some items on layaway at Wal-Mart and when I made my final payment for the items, and the cashier open the box a mouse ran out. So h.e.l.l no to the layaway for me.

By Hayden

November 17, 2008 4:12 PM | Link to this

Not only do I have a Christmas Club, I also buy little things throughout the year. All of my Christmas Shopping was done last month - and I haven’t had to touch the Christmas Club Money. I am a single parent, but I’ve been frugral with my money long before I became a single parent.

By Anne Marie

November 17, 2008 4:19 PM | Link to this

Thank God, it’s coming back. I’ll be doing a lot of shopping at Sears now.

By jakesdad

November 17, 2008 4:19 PM | Link to this

while I’m 100% pro-cash layaway is a bad idea, ESPECIALLY for electronics which are likely to be replaced by newer/better/cheaper models by the time you’ve paid for the item on layaway - save up and buy whatever is the best bang/$ when you have the $ (imagine if you’d have put a $300 HD-DVD player on layaway before they dropped to $100 then Toshiba surrendered)…

By Sherry

November 17, 2008 6:05 PM | Link to this

the end of walmart layaway had much to do with them having their own credit card. why offer a cheap/free service when you can charge monthly interest for years??

Thanks K-mart-I will be doing my shopping with you this year!

By Shelia

November 25, 2008 2:58 PM | Link to this

Can you please refer to any stores in Los Angeles that have lay away plans…besides Sears. Thanks!

By kelly t gilbert

November 26, 2008 2:10 PM | Link to this

yes, I would love for Walmart and Target to have layaway.