Ask an Expert // Are Holiday Layaways Worth It?

layawayWhat’s the deal with  layaway programs? Learn how to assess if layaway is a good option for you and how to set up your own layaway savings plan from USU Extension finance pro Amanda Christensen.

[youtube https://www.youtube.com/watch?v=KAZJY-7PcE0?version=3&rel=1&showsearch=0&showinfo=1&iv_load_policy=1&fs=1&hl=en-US&autohide=2&wmode=transparent&w=863&h=486]

Layaway Highlights:

  1. Read the fine print
  2. Look at the cancelation policy
  3. Will the payments fit into your budget?
  4. Is there a sale price credit?
  5. Will you be tempted to overspend?

Set Up Your Own Layaway Savings Plan:

  1. Set a goal and stick to it
  2. Make a plan
  3.  Set up an automatic transfer
  4. Watch sale prices
  5. Stick to your list

 

Be sure to watch the video for the details on each tip.

Amanda Christensen is an Extension Assistant Professor for Utah State University. Follow her on Twitter: @FamFinPro, Facebook: Fam Fin Pro, Instagram: @FamFinPro.