11.18.2008

layaway is back. . .


is this one of the "harsh realities" of our struggling economy, or is it a new(old) sanity? Layaway is considered the opposite of the credit card: pay-as-you-go rather than buy now, pay later. (it's actually a new concept for me - i remember the section at kmart being near the bathroom, but i've never personally tried it, or known what it was). Wal-Mart's not doing it . . .but Kmart, Sears, and several online businesses are.

According to a Marketplace story, a third of Americans are planning on using their credit cards less this year (!) NPR did a longer story about the "resurrection" of layaway and pawn shops in late October. Here are some of the interesting excerpts:
*We might have to "go back to pulling out of the hat. . .do more family gatherings. . ."
*"We live in a society based far too much on consumption and consumerism. . .when everyone is borrowing to buy stuff. . .it's not a healthy economy."
*Many people will be reverting to layaway, but not without some pain and arguing.

so . . .if you're going to be buying stuff this season, try to support ethical companies and embrace layaway as an alternative to credit cards. . . ;)

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