4 Surprising Benefits of Layaway

My kids just handed me their wish-lists for the holidays. Gulp. How did that time creep up so quickly? I just got finished putting away the Halloween costumes ... So my son wants a video game system and my daughter wants numerous "princess" accessories for her bedroom that I've been promising I would redecorate for eons.

A few years ago when my children were younger, Christmas was very doable money-wise. Babies and toddlers are happy with a few books, stuffed animals and a game or two. Seriously, I think I kept the tab to under $50 for both kids combined.

Now that they are older, their tastes are getting more elaborate and ... expensive. Add the economy to this and I am seriously worried about how I'm going to make their dreams come true. I recently learned that a lot of my friends on CafeMom, where I blog, do most of their holiday shopping at stores offering layaway programs.

Confession - I've never used layaway before, but this year I'm definitely looking into it. Being a novice at layaway, I asked my friends how it works. Every store may have a different policy, but it's basically when the retailer agrees to hold an item for you while you pay it off interest free in installments over a number of weeks or months.

That in itself is a major incentive to me, but CafeMoms shared other surprising benefits to using a layaway program. They:

• Thwart little snoopers.
 
"I paid for my items and kept them there so my family wouldn't find the gifts beforehand!" says one friend.

• Reduce clutter.

"I don't have room for all the baby's gifts right now. We are going to have to go through toys and donate some before we can bring in the new Christmas stuff," says an anonymous mom.

• Minimize credit card balances.

"Credit cards are what get people screwed up for buying what they can't afford. With layaway, you pay with cash until it's paid for - without interest!" another mother says.

• Guarantee the best selection.

You can put items on layaway weeks and months before the holiday rush - plus, no dealing with crowds!

Many moms also use layaway for school supplies - just goes to show how hard we're all being hit. This might be the start of a new trend. According to Google, the search term "layaway" has spiked since August 09.

For more holiday shopping tips and to join in the conversation, go to CafeMom's Daily Buzz.