Posted on 11/21/2006 12:55:57 PM PST by Nothometoday
I am hoping for some help here. As most of us know, Wal-Mart is "the" local store for purchasing items. Things like school clothes, furniture and electronics can become very expensive, and take time to pay off.
Most stores have a lay away policy. I am a single parent and have purchased many items in this manner.
However, I found out today that Wal-mart is ending lay-away after Christmas.
This bugs me, I was hoping for some support from FReepers who have been there, Done that, and know Lay away can help many families.
I am asking you to either call Wal Mart and voice your opinion, or write to walmart.com with any suggestions.
I feel this is a poor policy, that will hurt many families.
Thank you for reading my post.
How about just putting a little money aside into a special account, then make the purchase once you have accumulated the funds? This way, you earn a little interest.
Are they doing this permanately or just till before next Christmas?
I never use layaway. Just put the money aside until you have enough for the purchase?
Be your own lay away plan. By putting cash into a Christmas club account (or any savings vehicle) you will come ahead by whatever interest you earn. Best advice I ever got was to pay myself first when paying bills. Always make your savings deposit BEFORE paying any bills.
it is a permanent policy.
Sorry, can't help. I quit going there due to another of their ill-concieved policies.
I would recommend another store, or eBay. Sometimes eBay can be alot cheaper than retail. Just budget money & plan ahead. I know its hard.
On a brighter note, I realized that I squandered a whole lot of $$ on things that I really didn't need at Walmart. When I quit going I had extra cash for the things that I really did need.
Most larger stores are eliminating, or have eliminated this policy.
Wal-Mart was one of the few large retailers left that still offered layaway, which helped customers to afford bigger purchases by allowing them to pay for them in installments over 60 days without incurring hefty interest payments.As credit cards grew in popularity despite their frequently high rates and fees, retailers did away with layaway programs, which required a fair amount of bookkeeping and inventory space to manage. Circuit City Stores Inc., for instance, did away with its plan in 2004, due to waning interest.
"Wal-Mart Stores Set to Phase out Layaway Program," Wall St. Journal, Sept. 15, 2006 at B1.
I am a single parent and have purchased many items in this manner.
Irrelevant. If relatively few lower-income consumers utilize this program, Wal-mart is unlikely to be swayed by your particular circumstances. You're certainly not entitled to layaway.
Like everybody else has said here: set up your own proactive layaway system. Get an envelope and put cash in there until you have enough money saved up.
If you don't already follow a written budget plan, go to your library and check out the book Total Money Makeover by Dave Ramsey. That book changed my life for the better.
I understand where you're coming from with regard to WalMart getting rid of layaway. At least you're not doing what 95% of people out there do and just charge stuff.
Do what I do, write a bad check.
Owl_Eagle
If what I just wrote made you sad or angry,
it was probably just a joke.
"Layaway" is essentially a savings account, only the merchandise is the currency, rather than cash. The same effect could be accomplished with using the on-line shopping facilities at Wal-mart, and having the product shipped to your house at a time convenient to yourself. That way, the storage facility is the distribution warehouse, and not the back room of your local Wal-Mart.
Use a debit card earmarked for a specific account at your local bank, and make the same deposits to them you would make at the counter at Wal-Mart. A number of Wal-Marts have a bank on the premises right within the building.
If convenience is what you are looking for.
I worry about the poor people and how they will be able to clothe their families. Lay aways are a godsend to them.
I thought wal marts was supposed to be family oriented? Oh, yeah, they chose to support gay rights and marriages but screwed the Mom and Dad with kids trying to get by.
What Jude says is true -- as a youngster, I remember every store had a layaway program...that's how my parents often bought things when times were tough. But layaway programs are not very cost-effective for the store -- many stores would put the items aside for weeks or months, then find out that the people who put the items on layaways could not pay for them. All this time the merchandise was not being sold -- this would result in a financial loss to the merchant. That's why these programs are disappearing.
As others have suggested, try your best to save for the items you need. Or if necessary, see if you qualify for programs in your area. Where I live, we have a number of organizations that will help with clothing, furniture and other essentials.
Too funny :)
However, My point is this is NOT just about my family and I. Many families can not purchase high ticket items outright, and sometimes things come on sale at inconvient times.
I just feel it is bad policy, and in the long run it would help more people to keep lay away as an option.
However, I am also wise to the fact that Wal-Mart is profit oriented, They are not out to be people friendly.
If Wal-Mart is eliminating layaway and the costs associated with it, we should be celebrating. Lower costs will surely translate into lower prices.
Instead of shopping before you have the money, and putting your 'purchases' in Wal-Mart's closet while you save up enough money to take them home, why not simply take the responsibility on yourself to lay away your money until you have enough to buy what you need?
If the cash in the cookie jar is too tempting, see if Wal-Mart will let you bring your savings into the store and add it to a Shopping Card until you have enough to buy what you need.
Problem solved. Everybody wins.
The Activism sidebar is reserved for Activism of the FR Chapters. Not this.
AM
Do what I do, don't shop at Wal-Mart.
However, I am also wise to the fact that Wal-Mart is profit oriented, They are not out to be people friendly.
Well, they're out to be people friendly so long as it's profitable, that's probably how I'd put it.
What the issue, likely is, is folks who put things on layaway and then disappear for six months. The store then has the merchandise off the floor until it has to be sold as a "one off" (last one remaining) at a steep discount. Then, the store has to track that deposit, because no matter what the listed terms are, they're going to return the money to the customer if and when they reappear.
The potential (and often very real) headaches for the store probably lead to this change in policy.
Unfortunately, honest, organized people who need this service, suffer because of the irresponsible few.
Owl_Eagle
If what I just wrote made you sad or angry,
it was probably just a joke.
1) For Christmas presents you are able to get your pick of the games, toys, clothes, etc. in September thereby eliminating the Christmas rush, and out of stock items while spreading out the payments.
2) You can buy early (as in example #1) without having to worry about storage problems, or keeping Santas gifts hidden from curious eyes.
I used layaway alot during my childs younger years, and it was very convenient.
I loved knowing by October that all my gifts were "set aside" without having to deal with the crowds, or without having to find somewhere in my limited closet space to hide the gifts. It also isn't like credit per say, because you don't get the items until they are paid for.
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