Shoppers Putting Back To School Supplies On Layaway.

Well, I didn’t really see this one coming, but times are strange right now. Earlier this month I wrote about making your own layaway plan, but I figured that was for bigger expenses than pencils and paper. But it turns out that times are tougher than some might even be letting on, and families are now putting things like notebooks, magic markers and pencils on layaway plans. From MSNBC:

A record number of shoppers, shut off from credit and short on cash, are relying on Kmart’s layaway program to pay for all of their kids’ school needs, said Tom Aiello, a spokesman for Kmart’s parent Sears Holdings Corp. Layaway allows shoppers to pay over time, interest- free, and pick up their merchandise when it’s paid in full.

Although I would rather see layaway used for purchases than see people pile up crazy debt on credit cards, I do find it sad that school supplies are not available to those who cannot afford them. After all, this is education we are talking about – and seeing families struggle to buy paper and pencils just isn’t right.

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Comments (2)

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  1. Susie Orman says:

    In the twenty-first century, surrounded by computers, databases, mathematical models, and internationally agreed-upon capital standards, we have experienced another great bubble and bust, based once again largely on leveraged real estate. Real estate speculation is as American as apple pie, going back to the Founding Fathers, and, this time, Chinese savings helped us carry out this national tradition.

  2. Angie says:

    I used to work in the layway department at Walmart years ago. I was amazed too the people that would put notebooks, backpacks, pencil cases, everything on layaway. But then you can understand why they are doing it. The lists they give those kids to get nowadays are amazing. At least $100 worth of random crap per child.