Layaway

This morning I heard that a major toy store chain is providing layaway for toys in time for this Christmas season.  The terms are a 20%  down payment, a $5 service fee, and 90 days to complete the total payment.  I wonder how many of our young people, both parents and children, know about layaway.  Many Baby Boomers surely know about layaway. Our parents used this method to get not only toys, but items for the house and clothing.  As a child, it gave me something to look forward to, because with layaway, you did not get the items right away.  The store put the items aside for you and you made payments  until the items were completely bought.  I would accompany my mother to the store when she made payments.  Sometimes the clerk would bring the items out so we could see them.  This would make me even more excited to be good and  make sure I earned what my parents worked hard to get. Bringing back layaway is probably a good economic idea.  Delayed gratification is also a good concept in today's society.  For many in my generation, layaway was the only way we could make certain purchases long ago.
Take care,
Sylvia