Layaway: Its Time Has Come

Layaway is an old idea that is surging in popularity. Why? The economy! In today’s economy credit is difficult to get and expensive (outrageous interest rates on consumer credit) when you can get it. To make matters worse, many people are unemployed, afraid they may soon be unemployed, or just plain overloaded with debt. This is where layaway comes in. Layaway is a win/win for consumers and businesses as it is both low cost and low risk.

If you have never heard of layaway, it is a way to purchase something without paying the entire cost upfront. Unlike paying by credit card, though, the customer can not take the item home until the entire purchase is paid for. In exchange for this inconvenience there are no interest charges and oftentimes no fees. If the customer changes his or her mind before the transaction is completed the merchant returns his or her money. Thus, it is a win/win situation for merchants and consumers alike as it allows consumers to responsibly make purchases they couldn’t otherwise afford and it increases merchants’ sales.

In my new position as CFO at AJD Computer Specialist, Inc. I have implemented a layaway plan. I personally feel very good about this plan as it has no added fees to the consumer (with the exception of non-sufficient funds checks) and provides people access to essential technology they may not have been able to previously afford.

To see the terms and conditions of AJD Computer Specialist, Inc.’s layaway plan go to and click on “equipment layaway”.


About lisadworkin

Financial futures trader. Science teacher. Curriculum developer. Nonprofit management. Financial literacy expert. CFO. Communications Specialist. What do these diverse jobs have in common? They all utilize my ability to communicate information in order to achieve results including… • Realizing a higher return on investment. • Taking actionable steps to find employment. • Using the scientific method to solve everyday problems. • Managing one’s finances using simple, easy-to-implement strategies.
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2 Responses to Layaway: Its Time Has Come

  1. Tony Hine says:

    Hi Lisa,
    I have opened a small shop in the UK where we offer customers the layaway option; we call it “easy pay” giving this very old and traditional idea a modern sounding name!
    I found your article very interesting and I would be grateful for your permission to use it in a blog within the Ecademy website. I will of course post a direct link back to your blog along with it. If you think this is suitable for your article please let me know. If you prefer I could just post a link on its own back to your blog without copying any text.

    • lisadworkin says:

      Hi Tony,
      Thank you for your compliment. I would be happy for you to use it in a blog within the Ecademy website as long as I’m given credit for my work through a direct link back to my blog. Good luck with your shop and “easy pay”.

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