Tag Archives: budget

Holiday Layaway: Friend or Foe this Shopping Season?

For the frugal shopper looking to save money, layaway has always been a good option. It’s easy and doesn’t require much forethought on the consumer’s part; they just head to the store, pick the item, and start making payments. No big deal, right?

Maybe. Admittedly, making a budget and heading out into the rush to find a few key items is a really smart way to do business. If you have the willpower to figure out exactly what you need, go get it and then resist buying anything more, then you deserve an award. In this case, the system will work well for you: you’re not only thinking ahead, you’re making sure you don’t end up buried in a pile of debt at the end of the expensive holiday season.

There are, however, a few caveats you should consider before signing up for these programs, and they are not always well explained by the businesses offering them. PennySaverUSA.com is here to help explain the advantages and disadvantages of using layaway this Holiday season.

Remember the Fee

Layaway Shopping this Holiday Season
The whole point of layaway is to plan ahead and save money, and in many cases doing so in a thoughtful, frugal manner will get you there. However, you shouldn’t forget that there are fees attached just like credit cards. Should you go through with your purchase, according to the Wall Street Journal, the fee is usually small. Should you, on the other hand, not end up making the purchase, you can often expect larger fees.

Consider That You Might Miss Sales

Using this program also often means that you will miss out on sales and promotions when they come around. Because you will presumably pick your purchases earlier in the season, you likely won’t be eligible for many of the discounts that occur later on, such as Black Friday. This might be worth it to you, but it’s best to be aware.

Be Prepared for Gift Card Rebates

According to TIME Business and Money, one of the biggest promoters of layaway – Walmart – returns your refundable fee after a successfully completed purchase in the form of a gift card. While the money itself is valid, this often means that you have to make another trip to the store, where you will likely end up paying more than the amount of the gift card. That is if you don’t forget it entirely.

Pay Attention to Payment Structure

Though payment structures are generally both reasonable and expected, make sure you are apprised of them ahead of time. For instance Toys “R” Us, has a fairly elaborate one that could trip you up if you aren’t careful. The key to successfully using this program is preparation.

So this holiday season, do yourself a favor and think long and hard before signing up. Sure, it’s an awesome way to stay out of debt and put presents under the tree, but it isn’t always as consumer-friendly as it seems. Keep these tips in mind, though, and you should come through just fine.

Rating 4.33 out of 5

Save Money Monday: Food on the Table Giveaway!

In this Save Money Monday post, we’re introducing you to one of the best sites to get all of your grocery shopping/dinner time needs in order, Food on the Table.

Food on the Table is both a web and mobile service that creates meal plans and generates grocery lists. After selecting food preferences and dietary needs, members can choose from various recipes that fit their lifestyle, and Food on the Table automatically builds a grocery list for each item needed. It then goes a step further by showing the user local sales on grocery list items. It is meant to take the stress out of meal planning by providing recipes, organizing a grocery list, and fitting into your budget.

The better way to plan meals and save money!

The better way to plan meals and save money!

Seriously… the only thing it doesn’t do is get the groceries for you and make you dinner.

Since we are obsessed with this wonderful site, we want to pass on the word and share the experience with our loyal readers and followers. Sign up for a free account today and start planning your meals!

To make this even sweeter, we’re holding a rafflecopter giveaway to give one lucky person the opportunity to win a premium membership to Food on the Table and a $25 grocery store gift card of your choice!

There are many ways to earn entries into the drawing, so the more you complete, the better your chances are for being chosen as the winner! The contest starts August 1, 2012 at 12:01am EST, and ends on August 7, 2012 at 11:59pm EST. See here for complete rules.

Giveaway starts August 1st. Good luck to everyone! :)
Food on the Table Rafflecopter Giveaway


If you have any problems entering the giveaway, please contact us at feedback@pennysaverusa.com so we can resolve the issue right away. Thank you.

Rating 4.00 out of 5