You want a new laptop, fancy road bike, maybe even an engagement ring. You know you don’t have the scratch to pay for it, so you pull out plan B, the credit card. Queue frightening music. But, wait… Why not ask about, ummm, Layaway? This debt-free concept is making a huge comeback and with good reason. Just because you can’t afford that expensive item today and don’t want to use your credit card, doesn’t mean it’s out of reach. It just requires careful money management and a little planning.
Jessica Dickler from CNNMoney.com writes: “There are no interest charges or fees for the service, and the number of payments can be customized.” Remind you of anything? You eye a new item that exceeds your current cash position, you start putting money towards the item with intentions to pay in entirety, and your credit card stays put safely in your wallet? You got it! SmartyPig! Only difference is that while stores are moving toward having you save up for the things they sell while they hold your money, at SmartyPig you get paid a high interest rate while you save and cash back of up to 14% when you go to shop.
SmartyPig – Simple, Smart… Layaway.
Wishing you successful saving!
Sarah Foss, SmartyPig Media Mad Woman