Everyone enjoys the holiday season. There is nothing like getting the home together for guests to come to give and recieve gifts. But, some people are struggling this holiday season and might have difficulty when holiday shopping comes around. If you plan ahead, you will discover how you can get a great deal without feeling the financial restraint.
Layaway is a great options for those who want to budget their money when buying their holiday gifts. Generally, Layaway works like this:
- Pick out the items you would like to purchase. Some stores might have a special time for layaway and others offer it all year. Most layaways start in September and end in December.
- You will take the merchandise you want and put them on a hold of sorts with a deposit; usually, the deposit is a percentage of the total price of the items or there is a flat fee.
- You will then make small payments for the merchandise either weekly or monthly, depending on the store.
Stores can be strict with their terms of payment and if you do not pay, you might get fined for cancellation and/or restocking fees. But the benefits outweigh the cons. You pay no interest on the items and you don't have to max out your credit cards.
There are many stores on Long Island that offer layaway deals. Some even offere them online! Check these stores out now and save time and money this holiday season.
- Walmart is offering no opening fee and free layaway of their items. Their downpayment is $10 or 10%, whichever is greater. Cancellation of a layaway will be a $10 cancellation fee, but you get all your money refunded. Layaways must be picked up by December 13th.
- Sears offers layaway with an opening fee of $5 with a downpayment of $20 or 20%, whichever is greater. They have 8-week and 12-week layaway program starting at 4 easy payments. There is a cancellation fee of $15. Payments can be made in store and online.
- Toys R Us/Babies R Us offers free layaway with 10% downpayment. There is a $10 cancellation fee, but you are refunded your payments. Payments can be made in store and online. Layaways must be picked up by December 15th.
- Burlington Coat Factory is offering a great deal with their layaway this season. If you pick up your layaway before December 24th, you will recieve your $5 fee back. 20% deposit is required and your payments must be complete by the 24th to recieve the fee back. Refunds on Layaway deposits and refunds will be put on a store gift card.
- Marshalls/TJMaxx offers layaways at a few locations on Long Island. Be sure you check the location before venturing to start your holiday shopping. They will hold layaway items for 30 days with a $10 or 10% downpayment (whichever is greater). There is a $5 cancellation fee.
Where do you like the shop this holiday season? Are you considering layaway? Tell us in the comments below!