Walmart Layaway

[JR6ooo4]

One factor was the people using layaway as personal storage.
Imagine trying to store a 3 inch box and a 28 inch box for customer xyz and have it be retrievable in a moments notice. How much are they charging to cover the costs?

As for the use of layaway. I think the charges, if any, were a better deal than the interest rates the credit card monsters offer to the people in that position.

Mikeeee

 

[Mono~rail]

Do banks even have Christmas Clubs anymore? None of mine do.

Yes, I have a Christmas Club account. The money is deposited straight out of my paycheck.

I think there is a cause and effect here.. Folks ABUSED the layaway.

I read several posts on the budget board last year where folks found out what the Black Friday sale items were, put them in layaway and then waltzed into WalMart around 9 to get their items out and get a "price reduction" WalMart did not intend layaway to be your "presale" holding area.....

I am sure Black Friday wasn't the only time this happend. Put that new coat on layaway so that when it goes on sale you can be sure you have your size for example.....

I read those posts too. Over on the budget boared, the threads about the WM Lay-A-Way going away have had several people complaining about how they won't be able to do stuff like that anymore.

 

[Luv'sTink]

Everyone should have a major credit card? Are you kidding? Some people cant even get one because of their income and if they do the interest rates are so friggen high they cant afford them!!! Layaway was interest free!!

Sometimes people on the Dis are so selfrightous they make me sick!

 

[english rose 47]

Thank you Shelly, I am not a poor steward of my money. In fact I have money deducted from my paycheckfor Daycare expenses for my GS ( I claim him so it's all legal) I use this money for Christmas. But I often see things that I really like for the kids in the way of clothesthat I simply can't afford to buy 3 of and if I wait till next payday they will be gone. I try not to use credit cards as they ar4e to expensive. Lay away was perfect for me. I seldom cancelled and paid regularly and was well known for it in the department. Most of thre employees feel the same way I do.

 

[Cool-Beans]

Or if you have no self control get a Christmas club so you are set come November.

Some people aren't low on funds because they "have no self control." They just don't have any extra money. They pay rent, feed and clothe the kids, pay their bills...and don't have anything left over for a "Christmas Club." Don't just assume that people without money are without it because they spend it foolishly. They might not have had much to begin with!

I know there was a time we didn't. We struggled like hell. And I loved layaway because I could get the stuff before it sold out and pay it off when the bonus came in.

If Wal-Mart wants to get rid of layaway, that's their business. I feel sorry for folks who used it, like I did.

 

[MareQ]

Like I said, I had a reason and it worked out well fo me. Other people might, too.

It must feel really, really, super-nice to have life so perfectly well figured out for yourself that you have time to decide how others ought to live, though.

Cool Beans - maybe if you got the chip off of your shoulder you may actually realize that all I was saying is that a Christmas Fund can be a viable alternative..... If people can scrape up the money for lawaway they can also do it for a Christmas fund.

 

[summerrluvv]

Cool Beans - maybe if you got the chip off of your shoulder you may actually realize that all I was saying is that a Christmas Fund can be a viable alternative..... If people can scrape up the money for lawaway they can also do it for a Christmas fund.

Christmas Funds through the bank typically require you to deposit a certain amounteach pay period or each month the first 9 months of the year. The money is then distributed sometime during the last 3 months. Many people that use lawaway because they need to, probably don't have money to maintain a Christmas Club account for the first nine months of the year.

 

[Mskanga]

I think there is a cause and effect here.. Folks ABUSED the layaway.

I read several posts on the budget board last year where folks found out what the Black Friday sale items were, put them in layaway and then waltzed into WalMart around 9 to get their items out and get a "price reduction" WalMart did not intend layaway to be your "presale" holding area.....

I am sure Black Friday wasn't the only time this happend. Put that new coat on layaway so that when it goes on sale you can be sure you have your size for example.....

How would this be any different from the people who buy the items and when they go on sale a few days later , go back to the store with the receipt to get the difference back ?
Layaway is not just a matter of people being able to pay a little bit at a time , it's also about being able to store things there for the people who do not have the room to store them .
Also some stores ( I remember K-mart used to do that ) charged a layaway fee , so to me storage expenses were passed on to the customer , it was not free.

 

[Obi-Wan Pinobi]

Christmas Funds through the bank typically require you to deposit a certain amounteach pay period or each month the first 9 months of the year. The money is then distributed sometime during the last 3 months. Many people that use lawaway because they need to, probably don't have money to maintain a Christmas Club account for the first nine months of the year.

I agree. I think the situation that Cool-Beans was trying to tell about was back early on they lived paycheck to paycheck but received a Christmas Bonus that they used to buy presents. Of course the bonus doesn't come until close to the holiday and by then, a good part of the presents that they want to get may be gone so it was a way to shop earlier while the selection was better (or while their sanity was better - ever hit a WalMart on December 20th? Yikes!)

 

[malibuconlee]

Do banks even have Christmas Clubs anymore? None of mine do.
QUOTE]

Mine still does, but it's a small bank in Iowa. We should be getting our check in a couple of weeks.

Also, Wal-Mart had to in some stores start renting trailers to store lay-away murchandise at the holidays. Imagine how much that cost them to do.

I used to work lay-away and the people really did abuse the system.

 

[summerrluvv]

Do banks even have Christmas Clubs anymore? None of mine do.
QUOTE]

Mine still does, but it's a small bank in Iowa. We should be getting our check in a couple of weeks.

Also, Wal-Mart had to in some stores start renting trailers to store lay-away murchandise at the holidays. Imagine how much that cost them to do.

I used to work lay-away and the people really did abuse the system.

..but on the flip side, imagine how much more business they did because they offered the lawaway option, whereas Target, Toys R Us, KB Toys, etc. did not.

 

[wvjules]

You can avoid outrageous interest charges if you use a credit card by paying the balance in full by the due date.

 

[Pugdog007]

Everyone should have a major credit card? Are you kidding? Some people cant even get one because of their income and if they do the interest rates are so friggen high they cant afford them!!! Layaway was interest free!!

Sometimes people on the Dis are so selfrightous they make me sick!

Will have to disagree with your statement. I've had a major credit card since 18 years of age when I made less than $20k per year. So I will repeat - everyone can and should have a major credit card.

 

[Cool-Beans]

Cool Beans - maybe if you got the chip off of your shoulder you may actually realize that all I was saying is that a Christmas Fund can be a viable alternative..... If people can scrape up the money for lawaway they can also do it for a Christmas fund.

No chip on my shoulder. Lived with money and without. Having it is a LOT nicer than not having it, but if it disappeared tomorrow I could live without it. Just don't want to, because it sucked.

Contrary to whatever you believe, not everyone can "scrape up" money from nowhere. I once balanced my checkbook and realized that we had $.12 (twelve cents) to get from Saturday to the following Friday. No Christmas Fund money there.

I gave my example. Can't you concede that it might be possible for other people have circumstances that lead them to do their own thing for their own good reasons?

 

[Nancy]

You can avoid outrageous interest charges if you use a credit card by paying the balance in full by the due date.

BUT if you don't have the money to pay in full in cash when you buy it, you will not have the money to pay off a card in full every month either.

And no not everyone can and should have a card. My 18 year old has a job and can't get a card, she has no credit history. (that's what her letter says)

 

[wvjules]

BUT if you don't have the money to pay in full in cash when you buy it, you will not have the money to pay off a card in full every month either.

And no not everyone can and should have a card. My 18 year old has a job and can't get a card, she has no credit history. (that's what her letter says)

I'm not suggesting doing this every month. Say I use it on Black Friday, by the time the statement closes and the bill comes due, it will be about the same amount of time of a layaway.

OT: Add your daughter as an authorized user on one of your cards (but don't give her the card), you history for that card reports on her Credit Report as if it were hers.

 

[MzDiz]

Will have to disagree with your statement. I've had a major credit card since 18 years of age when I made less than $20k per year. So I will repeat - everyone can and should have a major credit card.

Stop! You're killing me!

Have you ever had money problems? I'm not talking rich people money problems either, I'm talking about being cold and hungry kind of money problems.

 

[DISUNC]

I do have excellent credit! I have a few major CC's, all with No or Low balance. So much so that my Car loan company has even lowered my already low Interest Rate on my car payments. Very lucky here!

However I have ONLY been turned down once for a Credit Card ........Guess who that was??? WalMart!

I did get a FREE umbrella out of the deal!

 

[the Fidge]

bumbed here about the layway! DH will now really know how much money I spend at Christmas time!

 

[DISUNC]

bumbed here about the layway! DH will now really know how much money I spend at Christmas time!

Theres always Kmart!