Make the Most of Layaway

Stores like Kmart are bringing back layaway to draw in holiday shoppers. This option is a tempting one for consumers on a budget, especially in the current economy. Before you take the bait, discover how to make the most of a layaway plan. Your approach could save (or lose) you money.

1. Create a budget.
How much do you plan on shelling out for Christmas presents? What can you afford? Calculate a number and stick to your budget. Don’t go crazy just because you don’t have to pay right away. Remember, if you miss a payment, your items go back to the shelf.

2. Learn store policy.
As with coupons, stores have policies regarding their layaway plan. Get the details. You can find this information out online. Or, you contact the store directly. Be sure you understand what your doing since you’re entering into a contractual agreement. You don’t want to be caught off guard because you failed to understand a small part of the layaway plan.

3. Wait for discounts.

Make the most of a layaway plan by purchasing items at a discount. You should still opt for the best sale regardless of whether or not you’re bringing home a purchase the same day or later. Your savings can absorb any fees that apply to your layaway plan, which, in a sense, helps you forfeit this amount. Also, if a sale occurs after you complete your layaway plan, ask for an adjustment. Most stores will accommodate you.

4. Bundle your goods.

Since some stores charge a flat rate to set up layaway, you want to purchase all of your goods the same day. By bundling items, you don’t end up paying several fees. You also can keep track of your layaway easier. You won’t accidentally forget one because you have multiple layaways at different stores.

5. Use automatic payments.

Making your payments automatic is the only way to ensure you never miss one. You can check out options at your bank and through the store. If this feels unpleasant to you, another method is to send yourself reminder e-mails. They can be set up through the calendar section of Outlook.

These five suggestions can help you make the most of your layaway plan. Use them and save big during the holidays. Also, checkout For those of you enjoy shopping online, you can do layaways in the comfort of your home here.

Also see:
Save Money On Christmas Gifts

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