Best Money Tips: 2012 Holiday Layaway Plans Explained

By Ashley Jacobs on 19 October 2012 (Updated 23 October 2012) 1 comment
Photo: Mike Kalasnik

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some great articles on 2012 holiday layaway plans explained, making traveling a priority on a limited budget, and when to haggle.

Top 5 Articles

2012 Holiday Layaway Plans Explained — Layaway will not get you sale prices on the items you put on layaway. [The Centsible Life]

How to Make Traveling a Priority on a Limited Budget — If you want to travel but have a limited budget, make sure you never pay full price for travel expenses. [Careful Cents]

When to Haggle — When buying a car or jewelry, take the time to haggle. [Five Cent Nickel]

No Student Loan Relief in Sight: Work on Getting a Free College Education — Reduce your tuition expenses in college by starting to earn credits early. [Generation X Finance]

How Healthy Living Leads To Saving Money — Having fewer drinks at the bar is a healthy choice that can save you money! [Canadian Finance Blog]

Other Essential Reading

Being a landlord: Is it worth it? — Being a landlord can be a good way to build wealth, but you have to be careful with the tenants you let live at your property. [Get Rich Slowly]

Make Millions More: The Difference 1% Can Make — Going for an extra percentage on your pay raise can get you hundreds of thousands of dollars over the course of your career! [Free Money Finance]

Secrets To Becoming Confident — To become more confident, challenge yourself! [SavvySugar]

9 Tips for the On-the-Road Dad — If you are a dad who is on-the-road a lot, put your smartphone to use and call home often. [Parenting Squad]

5 Unique Ways to Use Social Media to Promote Your Business — Promote your business on social media by giving coupon codes. [Christian PF]

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Max Wong's picture

My favorite consignment store has layaway. I use this to "purchase" big ticket items with trade credit.

Here's what I do, I wait until my favorite item goes on sale, so it's already discounted before I ad it to layaway. If it's something that I think will sell quickly, I ask the store owner to call the consigner and ask what "their best price" is.

Since I usually trade in my used clothes to acquire new clothes, instead of taking cash for the clothes I bring in, I have all my sales credits, credited toward my layaway items.

While this sometimes takes longer than if I made regular cash payments to get something out of hock, I'm not out any actual money. The currency exchange is old clothes for old clothes. Also, store credit is always a bigger percentage than what you get for trading clothes for cash, so you get more bang for your trade in.

Not every consignment store will be cool with this arrangement, but it never hurts to ask right?