A great way to spread out your holiday purchases is to take advantage of store layaway programs.
Layaway programs are a great way to get your shopping done early, but to spread out the expense.
Several years back, it seemed like layaway was becoming a thing of the past, but thankfully several major retailers have hopped on board again.
Here are some stores that still offer some form of layaway. Please be sure to verify with your local store for any unique terms and conditions.
Their layaway program is 90 days long. You’ll make a 10% deposit based on the total purchase price of your layaway contract. There is no fee, but if you cancel there will be a $10 cancellation fee.
Make payments at any time either in stores or online. Pick up is 12/11. More details here.
Walmart’s layaway is pretty straightforward. Final pick up must be before 12/14 at the same store you opened your layaway contract. There is no opening fee and the deposit is $10 or 10% of the total (whichever is greater).
You can make payments at any time (or not) as long as it is completely paid off by 12/14. Find more details here.
Both Sears and Kmart have 8 week layaway plans (12 week plans available for purchases over a certain amount) and both plans require a $5 fee (some states excluded from this fee). Both plans require you to pay 4 payments during the term of the layaway contract and both have a small grace period allotted.
GameStop offers layaway with a $25 minimum deposit (interesting to note, they DO accept trades as payment). You must pick up your layaway by a specified date (not yet specified for the 2015 holiday season). There are no penalties or fees associated with GameStop’s layaway program and you can cancel at any time.
I’m not sure they have started the 2015 program, so this could change once they do.
Be sure to verify whether or not your store participates in the layaway program. Not all stores participate. For those stores that do participate, layaway is only 30 days long with a minimum payment of $10 or 10% (whichever is greater) and a $5 non refundable create fee.
A $5 cancellation fee will be applied (in most states) when a layaway is cancelled. For more details (as well as exclusions), click here.
Let me know if you know of any other stores that are participating in a layaway program this year!