Good Layaway Tips for the Holidays, Starting Now!
I know, I know. The Holidays you say?!
Well you all know that being financially savvy means PLANNING! And if you don’t want to get charged over 20% interest on a credit card balance, then thinking ahead about holiday gifts can save you a bunch of money, not to mention get you into the habit of contributing to a regular savings plan.
It’s approximately fifteen weeks until Christmas 2011. Kids are just going back to school so why am I writing about this now?
Because you may be operating on a very tight budget, but if you do some homework on layaway options and start making a holiday gift list in the next few weeks, many layaway plans have six to twelve week, bi-weekly payment options. You’ll pay no interest, a small initiation fee, and be finished with your shopping by early December with no credit card debt!
I have made a partial list below of merchants who are offering a layaway plan:
Kmart - 8 week pay off for online purchases, ($5 initiation fee)
8-12 week pay off for in-store purchases, ($10 fee)
Payments are bi-weekly & 12 week option is for
purchases over $300.
Deposit minimum, 10% of balance, or $15 for
8 week plan, $30 for 12 week plan,
whichever is higher
$10 or $20 cancellation fee
Go to Kmart.com/layaway for more info
Best Buy -
4-6 week bi-weekly payment plans
Minimum $250 purchase, (5% fee)
Certain items don’t qualify for plan,
e.g. clearance, promotions
Go to BestBuy.com
Walmart -
Had a layaway option last year and stated they
weren’t offering it for 2011, however,
in light of the economy, some sources are
saying they’re bringing it back
Marshall’s -
Many stores are offering layaway plans but you must
contact individual stores to find out.
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