i've never used layaway but i've worked in clothing stores that had it. it just never made sense to me - that you start paying for something and then you still can't get it until you've paid it off?

Yes, I actually have. I started my career at 15 at Burlington Coat Factory and they had layaway. It was the only time I actually used layaway - especially before I left for college, I took advantage.

I have never used it but I know when I was a kid, my mom would do it all the time. Thought it was cool.

Never used it. Might have to use it for something eventually.

I think my mom used to do it. Not entirely sure how this works, though. If you can't get it until you've paid it off, then I guess that's all the opposite from credit, right?

I saw a K-Mart commercial for layaway yesterday, and it really caught me off guard. Yet another way for people to "buy" things they can't afford. Although I guess it's better than credit - at least you eventually have to pay in full before you actually get to take it home.

I personally think it's best to wait to buy something until you can pay for it - not only is this sound budgeting, but it also forces you to have discipline and put thought into your purchases.

I've been on hiatus for awhile but I had to come back to post about this. I cant think of anything more illogical. Instead of paying in installments before you receive an item, pay in full after you've saved up all the money because by saving up the money in your bank account you've earned interest on the money. Lay away is practically giving away money.

I didn't even know they had this anymore! I remember my mom doing it when I was little when there was something special she really wanted

I have never used but 10 years ago I worked in the layaway dept of a store and omg you wouldn't believe the sob stories I heard then when we had to cancel someone's layaway due to a missed payment.

yep, I've used and I still use it at stores like Burlington Coat Factory, Kmart, Marshall's and TJ Maxx.

I think it's a good way to pay for items you want when you don't neccessarily have all of the money up front. An example, when I first decided to move out from my parents I was able to start a 120 day layaway with Kmart prior to the move which allowed me those extra months to gather the money to pay for the items I wanted/needed.

To date I use it to hold items for my nieces until I can get the rest of the money. It is a good alternative to using my credit cards.

I have to agree with laughing808, I used and will still use layaway. there is nothing wrong with it. When I also moved out on my own, I was able to get the other things I need to live on that I hadnt already gotten thru family and xmas. And I used my savings to put down my deposit and rent for the first month. I notice so many comments on here make it seem that it the worse idea ever. But its better then using credit, your not paying anything more on it then normal. and the idea of putting money in the bank to get the interest, then to buy the item. I have a Ing Direct acct and though interest is high, it isnt that great. But I guess you have to be broke or be strapped for cash to understand the benefits of layway and how it can be useful in tough times.

BabyBearCutie - spot on!

Are there any extra fees for the service? Or if you don't make constant payments or pay by the contract end date, does the store get to keep all prior payments?

I have used it. Last year a flat screen tv went on sale at a great price and i didn't have all the money and didn't want to use my credit cards so i put it on layaway for a few weeks so i didn't miss the sale.

I am trying not to use my credit cards so it is better to use layaway and take a few weeks then charge it and paying the interest if i didn't pay it off right away.

dienliv --it depends on the store. Some may charge a $2.00-5.00 fee and some stores do not charge anything. Your merchandise stays on layaway for the period and you make payments. If you cancel the layaway you keep the cash you put in either as cash or a store credit (check the store).

When I use to work at Burlington Coat Factory in the era when they didn't give cash refunds ---people use to come back after 5 years wanting their store credit.

I've never used it.

I saw the KMart commercial as supercoolnat (love the SN by the way) and it stunned me a little. I don't think there's anything wrong with using the service. I just don't ever recall it being advertised via TV or radio before.

No

I'm pretty sure my mom did this when we were kids...she bought all the Christmas presents at once in like, October or so and put a big deposit on them. Then, about a week before Christmas or so, she'd pay the rest of the balance and get all the gifts at once. I think she did it more so that we wouldn't find the presents early than she did it for the budget aspect.

I am glad to see lay-away making a comeback! i always used it at Christmas time for getting presents for our children. it seemed like i could be more organized and efficient, by making a list and getting it all at once, rather than trying to spread it out over pay-days as they would come up. there was also the benefit of the fact the kids couldn't find the gifts ahead of time too.

The only issues i have wih layaways is when you put money down on a items and the store closes. this has only happen to me once in my 25 years, and was with HomeUSA when they close down without knowledge.

The only issues i have wih layaways is when you put money down on a items and the store closes. this has only happen to me once in my 25 years, and was with HomeUSA when they close down without knowledge.