With the holiday shopping season in full effect, many Americans will need some layaway tips.
Layaway plans are often considered by many shoppers who are in a financial crunch — and why not? There’s no interest, since there’s no money borrowed, and you get to pay for your purchases over a set period of time.
However, layaway may not be the best plan for you. Before you turn to a layaway plan this year, here are the top five layaway tips for the holidays:
- Understand what a layaway plan is. Know what you are getting yourself into. A layaway is an installment purchase plan that allows the buyer to pay a chunk of his purchase as a down payment, and then make weekly payments.