Let’s Talk About Layaway! (GIVEAWAY CLOSED)

let's talk about layaway andthenwesaved.com

let's talk about layaway andthenwesaved.com

let's talk about layaway andthenwesaved.com

I’m teaming up with Kmart on some upcoming posts. This is a good match because I always find myself at Kmart if I need (of all things) inexpensive planters and potting soil. And, if I get a craving for my favorite childhood food, Little Cesar’s, I know can get some pizza pizza there.

Kmart is also a place that we used to go to ALL THE TIME when I was I kid. I distinctly remember being in line one time, and thinking about how I could be a millionaire when I grew up if only I could save every single penny from that moment on. That didn’t happen (obviously), and instead, I went ahead and bought my mini gumball machine with my birthday money. I even wrote a post about that experience a long time ago (here it is if you’re interested: Switching Over). Needless to say, I’ve got a whole bunch of Kmart memories. Another day I’ll have to tell you the story about the baby bird.

But today, I want to talk about a topic that I, surprisingly, have never covered on the blog before: Layaway.

So, when I started thinking about this topic I started asking everyone I know if they’ve ever used Layaway, and if so, what did they buy, and why did they use that method to make the purchase. Aaron told me that he bought his parents a ping-pong table for Christmas and used Layaway to buy it for them. That was 15 years ago and that thing is still going strong in my in-laws ice-cold basement.

On Facebook, a whole bunch of readers told me how they’ve used Layaway, and not surprisingly, it seems that it is primarily used to buy Christmas presents.

I know it feels a little early to start thinking about the holidays but I’ve found that the earlier I make my gift shopping list and get the “errands” part of the holidays taken care of the more I can actually enjoy what the holidays are all about: eating until you’re so stuffed you can’t move. Nah, seriously though, it’s about spending time with your loved ones, and I would much rather do that than be stressing out about what I’m going to get everyone.

Morale of the story: if you start early you can spread the cost of the holidays out and also avoid a ton of last-minute stress.

Alright, so let’s talk about details of Layaway in case you’re not familiar with how it works.

  • As mentioned above, you can spread the payments out over a period of time.
  • You can set aside purchases so you don’t have to worry about things being out of stock when everyone else starts their holiday shopping. (Frozen dolls anyone?)
  • If you miss a payment it won’t impact your credit score.
  • The 8 week contract at Kmart, has a service fee of only $5 which is awesome (They’re offering no-money down layaway until 11/15/15 as a special promo). Especially when you compare that to what it would cost to put the purchase on a credit card. (The average credit card APR from 13.02% to 15.59%. That’s completely outrageous.)
  • Since there is a little bit of a process involved with getting set up with Layaway you’ll be able to think through your purchases more and, hopefully, avoid impulse shopping.
  • You can take advantage of sales even if you normally wouldn’t be able to make the purchase when the sale is happening.
  • Kmart offers Layaway year-round so if there is a special occasion, like a wedding, or other big event you can plan ahead rather than taking a hit on your wallet all at once.
  • Oh! And now, you can even do layaway online so you don’t even have to leave your house if you don’t want to. (I reaaalllly like that.)

 

Enter to win 75 Bucks! -GIVEAWAY IS NOW CLOSED

So, get this… Kmart is giving away a $75 gift card to one reader to help you get a start on your holiday shopping! All you have to do is tweet about some of the items you’ve put on layaway. Be sure to use the hashtags: #KmartLayaway and #ATWS so your tweet can be found, and so you can be entered to win. The giveaway will end on Monday, November 10th at 6pm MST. Good luck!

 

This is a sponsored post, and I am a Kmart K-Club blogger. But, as always, my opinions are my own. Thank you for supporting the brands that help to make this site possible! xo, Anna

11 comments

11 thoughts on “Let’s Talk About Layaway! (GIVEAWAY CLOSED)

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  1. Harriet Cullinan

    There’s hope for retirees with house debt and very limited income! Thank you so much for this blog. My grown sons- who manage their finances well- will be so proud of me if I can do this. An unplanned retirement, without substantial savings, has really thrown me for a loop, but I think I’m still up to a good challenge. Like to hear comments from others in this same boat.
    Let’s do this thing!! Thank you, HC

    Reply
  2. Andrea

    I used to go to Kmart growing up too. When I was on my own there were a lot of housewares I could get cheaper there and stock up on hygiene and cleaning products. And layaway made it easier to do that than charge to a credit card. They also have some Martha Stewart items at good prices that I like to get too. Great giveaway!

    Reply

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