Aiemond said:
No, thats credit cards. Lay a way lets you pay over time and then get the product when payments are finished. There is no interest. Credit cards let you buy and use at once, then charge lots of interest so you have trouble paying it back (that is if you have bad spending habits; smart spenders will not have troubles regardless unless circumstances force it). Credit cards are what kills finances the most :P |
However Layaway locks in the price of an object at the price it was at date. By the time you have it paid off newer better models are out for the same cost in most cases... and having saved up the money properly would of got someone a better product.
I believe Wal-mart also had a penalty for people who didn't pay off their layaway.
