Layaway vs Piggy Bank

[AdamH1978]

Do you consider layway a good option over saving money until you can pay in full?  I guess if you are tight on cash then you should pay towards what you want while you can.  What works best for you?

[cloudsoup]

i think the last time i heard of using lay-away
was back when i was a kid, and my mom
would sometimes use it at certain stores.
do they even offer it anymore? i thought
walmart got rid of it, but i never officially
knew...

i normally just wait until i have the money
to make a purchase. from what i can remember,
it seems like you had to pay a little extra
to use the lay-away system? kinda like an
"interest" accruing or something. i could be
wrong though...

[dreamyxo]

I may have used layaway only once and that was years ago.  The good thing about it is that you can reserve it and keep paying for it until you get it.  If you wait until you have the money, depending on how long you wait, the product you want may not be there or it might be at a higher price.  Of course in layaway the price might have gone down but I think some places might let you take it back for the difference if I remember correctly.

[tammypete]

I have used layaway before if money was really tight!  There are very few places that offer layaway anymore!  I think that Kmart still does!

[lynnc35]

Depends if I can save and keep myself from touching the money, one way is to pretend you don't have it, I put it in an envelop and leave it alone.

[lgemini]

I will start a layaway account for my day bed and dinning room set.   You are better having a layaway account than using your credit card for purchasing items.  It is so hard for me to save money in a savings account, but I know it is very important to have some money for a raining day.