KJCT8.com - Grand Junction, Montrose - Weather, News, Sports | Layaway your holiday this season
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DON COLEMAN
DCOLEMAN@KJCT8.COM
GRAND JUNCTION, Colo. (KJCT) -- Two local stores are looking to ease the financial pain this holiday season, and they're doing it through a program that hasn't seen this much interest since The Great Depression.
During that depression, unemployment rates were approaching 25% and disposable income was severely limited. It's a similar story today.
That's why Sears and K-Mart are now hoping you layaway your holiday.
K-mart says their layaway policy works for the store and the customer.
They charge a $5.00 fee for every new layaway contract.
"It's something they can do without having to put it on a credit card,” said K-Mart Executive Glenna Bozarth. “It's just a convenience. They can make the payments as they get paid for Christmas. "
K-Mart shopper Pam Young uses the layaway program often. She says it's a great thing that saves her money.
"Interest alone is 20%. So coming in here and putting them on layaway, I save at least 20 percent on my credit card,” said Young. “And I don't have to worry about my [credit card] bill."
You do need to know these layaway programs come with service fees, and cancellation fees. So read the fine print to make sure you can meet the obligation before entering into it.
Both Sears and K-Mart are anticipating these layaway programs will make for a busy Black Friday, not to mention holiday season.
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