Clark Howard: Toy layaway
JACKSONVILLE, Fla. -- The economy is not exactly booming right now and a lot of people's wallets are a little thin.
So what do you do if you are a toy seller and you're trying to pump up sales for Christmas? You offer various types of deals. This year, the most important deal from Walmart and Toys R Us is no-fee layaway.
If you're not familiar with layaway, it used to be really popular 15 or more years ago. You go into a store. When an item is on sale and you put down a deposit on that item, and then interest free you have a cutoff date until December to pay it off in full. Then you have that item at the sale price.
It's a way of budgeting without having to borrow any money. In the past few years as layaway has come back to the biggest players, stores charged fees for it.
Now, Walmart, the biggest toy seller in the U.S., and Toys R Us slugging it out.
Toys R Us has a price match -- for both online and for traditional stores.
For more information, go to ClarkHoward.com.
Watch Clark Howard weekday mornings on Action News This Morning on FOX30 beginning at 7 a.m.
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