You have probably seen the television commercials for layaway from Kmart and Sears. Walmart also has layaway available on toys, electronics and fine jewelry departments. Layaway is another way of purchasing items instead of credit cards. For a small fee down (usually $5 fee plus a percentage of the cost of the item as a down payment) you can pick out items and make scheduled payments over a couple of months or few months and when the full amount has been paid you are able to take the item home. One difference of layaway instead of credit cards is that there are no interest or finance charges.

Even though with layaway programs you avoid credit card debt and fees, you still need to monitor what you are spending so you are able to make the payments as they are scheduled.

This is part of a 90 day series with tips to help make your holidays easier. Click here for previous posts.