• «
• »

Comeback Kid #1: Layaways Returns

You remember layaway, right? You put an item aside at the store and make payments along the way until it’s paid in full. Layaway was hugely popular for many years, but went the way of the dinosaur when credit cards came along and allowed for instant gratification (and debt!).

Thanks to the credit crunch, layaway is making a huge comeback. In fact, demand is so high at K-Mart that they have made layaway plans the centerpiece of a national marketing campaign!

Be aware that layaway plans are usually not free. Most stores charge a fee for setting up their plans and require a down payment. Despite the set-up charge, we much prefer layaway plan payments to maxing out your credit card.

Next: Cold Hard Cash