Comments on: Layaway Is Coming Back http://www.moneyunder30.com/layaway-is-coming-back Personal Finance for the Young and Ambitious Fri, 19 Mar 2010 21:32:50 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: David http://www.moneyunder30.com/layaway-is-coming-back/comment-page-1#comment-1853 David Tue, 11 Nov 2008 15:36:25 +0000 http://www.moneyunder30.com/?p=832#comment-1853 Layaway works great for hot items, like the latest and greates toy. You can get it, lay it away and put it under the tree. They could be gone by the time you saved for it. Layaway works great for hot items, like the latest and greates toy. You can get it, lay it away and put it under the tree. They could be gone by the time you saved for it.

]]> By: Amy http://www.moneyunder30.com/layaway-is-coming-back/comment-page-1#comment-1854 Amy Tue, 11 Nov 2008 04:05:00 +0000 http://www.moneyunder30.com/?p=832#comment-1854 I remember my mom using this all the time when I was a kid. In one specific instance I helped to pay for a new bike. She would take me grocery shopping with her and we'd always stop by the layaway area to see my new bike and put more money toward it. It felt like forever until I got my bike but it really helped me learn patience and the value of money. I remember my mom using this all the time when I was a kid. In one specific instance I helped to pay for a new bike. She would take me grocery shopping with her and we’d always stop by the layaway area to see my new bike and put more money toward it. It felt like forever until I got my bike but it really helped me learn patience and the value of money.

]]> By: T http://www.moneyunder30.com/layaway-is-coming-back/comment-page-1#comment-1852 T Mon, 10 Nov 2008 19:46:54 +0000 http://www.moneyunder30.com/?p=832#comment-1852 I completely fail to understand why you would do this instead of just saving for it yourself - you skip the fee, and you earn interest in the meantime. It seems like it's something that used to make sense when items at a store were more unique - ie, in the 30's at a dress-shop where if you just waited it might be gone - or when women did most of the shopping but had less access to safe vehicles for saving. But now... it doesn't seem like either of those are likely to apply for the vast majority of people (I hope, in the case of the later)! Anything I'm missing? I completely fail to understand why you would do this instead of just saving for it yourself – you skip the fee, and you earn interest in the meantime.

It seems like it’s something that used to make sense when items at a store were more unique – ie, in the 30’s at a dress-shop where if you just waited it might be gone – or when women did most of the shopping but had less access to safe vehicles for saving. But now… it doesn’t seem like either of those are likely to apply for the vast majority of people (I hope, in the case of the later)!

Anything I’m missing?

]]> By: Live for Improvement http://www.moneyunder30.com/layaway-is-coming-back/comment-page-1#comment-1851 Live for Improvement Mon, 10 Nov 2008 15:56:49 +0000 http://www.moneyunder30.com/?p=832#comment-1851 Layaway is definitely better than using a credit card, but any time you buy something before you have cash in hand to pay for it, you can get in trouble. I am a strong believer of buying things outright. If you can’t afford it now, you probably should buy it. Of course there are exceptions to every rule. Layaway is definitely better than using a credit card, but any time you buy something before you have cash in hand to pay for it, you can get in trouble. I am a strong believer of buying things outright. If you can’t afford it now, you probably should buy it. Of course there are exceptions to every rule.

]]>