Kmart, which heavily promoted its layaway options during the last two holiday seasons, is expanding the program in anticipation of another tough Christmas.
The extended layaway program allows customers to select their items and make biweekly payments for 10 to 12 weeks, an increase from eight weeks. Items are picked up after they've been paid in full. The discount chain is also making more items eligible to be placed on layaway, such as washers, dryers and other big-ticket items.
My mother was big on layaway, but she had a DIY version. She'd just put money into envelopes with labels for what she wanted until the envelopes had enough money to actually buy it. She had the discipline to do it, and the stores didn't get the use of any of her money ahead of time.
(ALERT! ALERT! Stay away from "rent to own," by the way. You'll end up paying as much as or more than you would by buying on credit.)
