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Walmart brings back holiday layaway
Shoppers can sign up for a layaway plan beginning Sept. 16.
Mon, Aug 27 2012 at 8:00 AM
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Photo: Walmart Stores/Flickr
Attention, Walmart shoppers: holiday layaway will return for the 2012 shopping season on Sept. 16. That’s right, the nation’s largest retailer will be offering its customers a layaway program yet again this year. The 2012 program is better, though. Walmart will be offering a 90-day layaway option, a full 30 days longer than the 2011 holiday layaway program.
Customers wishing to take advantage of this payment option will have to pay a $15 layaway open fee and a down payment of $10 or 10 percent, whichever is greater. Once the layaway purchase has been completely paid off, Walmart will refund the $15 layaway open fee in the form of a store gift card. If a customer needs to cancel the layaway, the $15 open fee will be forfeited, but there will be no additional cancellation fees.
I’ve never used layaway but my advice to shoppers is to make sure that layaway is really the best option available. Sure, losing $15 doesn’t sound like much if you have to cancel the program, but $15 is half of a tank of gas or a week’s worth of school lunches.
Layaway sounds like a convenient option; for a small fee of $15 you can do all of your holiday shopping and pay it off over the course of 90 days. Did you know that you could do almost the same thing on your own, without a $15 fee?
Simply do all of your holiday shopping, on paper, and determine how much money you’ll have to save to buy everything on the gift list. Divide this total by the amount of pay periods that you have in a 90-day period and set aside that much money each payday. At the end of 90 days you will have your holiday shopping money saved up and you’ll save $15 by doing it yourself.
Will you be taking advantage of Walmart’s 90-day holiday layaway program this year?
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THIS IS GOD SENT ,AND I THANK THE LORD.
Can you use Layaway on black friday?
According to their website there will be limited hours on Black Friday and you need to check with store associates beforehand. http://www.walmart.com/cservice/contextual_help_popup.gsp?modId=1097364 I suspect that means that the hours will not be in place for the super early wait in the wee hours type of black Friday items.
I will absolutely use the layaway. The stores get crazy after Thanksgiving, and the selection of items that you may want to give as gifts are basically picked over. If you find what you want and put it in layaway, you know that you have what you need without having to frantically run around to find items. You're not out the $15 if you don't cancel. I think it's a great plan.
I remember using layaway when I was a teenager to get a piece of jewelry I really just had to have. (I don't remember what it was--see--very important.) I had to go to the jewelry store weekly to make payments on it and I felt a lot of accomplishment when I paid it off.
In this case, I think that the benefit of the layaway is being able to lock in sales prices and certain limited quantity items. That's a big deal for a lot of people--and the savings can definitely prove worth more.
I agree with Peggy. Layaway is the best option and I plan on taking advantage of Walmarts layaway this year. Getting the $15 back in a gift card after I pay off the layaway is fine with me. I can use it for last minute stocking stuffers or whatever I need.
It sounds good to save money at home over pay periods, but don't forget, the items you want for your family may be all sold out if you wait, layaway will at least hold items so you don't save money and then realize t aint there anymore to get... then you will be upset you didn't spend taht 15 dollars for assurance, and if you pay it off, guess what , you get it back, your not out the money.