does anyone besides me and woo use layaway?

[ladykemma]

(________________) i like stores that allow me to pay over a year time -- so helzberg frequently gets my business. last year i bought that wrap in the "pawn shop pear" thread on layaway.

My religion does not allow me to do debt for any reason, so credit is out or putting on my credit card. i enjoy the working hard for what i want and look forward to the final payment. I think of layaways as my current goal or project and makes me appreciate more. i also space out my payments so my husband does not have a heart attack when he sees how much i spent on something.

I frequently do layaway when I don't need to, for example, i am paying on a tiny sears layaway right now for some inexpensive white gold tension set (sirena) dangly fashion earrings. (they are pretty but junky diamonds, not mine or yours or pricescope quality). I didn't want to pay much in case i have an allergic reaction to the white gold and have to sell them.

i want some real (with a capital M) mikimoto pearls not sea magic or other low quality pearls. Bailey banks and biddle said when i was ready they would allow me to do a year layaway which they don't ordinarily do more than three months. i think that will be my next project.

anyone else do layaway?

edited to delete misleading sentence about being a school teacher

 

[MissAva]

I have always thought of layaway as debt myself. And I really just am not comfortable with owing money. I would go into debt for school or a house (mortgage) but anything else I don’t really “need”. If I want something and I don’t have to money at that exact moment then I will either save for it or do with out. I don’t not think that there is anything wrong with having to save up for something that you desire but if you would rather use lay away and that is what works for you, then go for it!

 

[JulieN]

Lady Kemma, I love Mikimoto. 7mm A+ are $360

Are you ordering AA from BBB?

 

[ladykemma]

Date: 4/8/2006 10:56:51 PM
Author: Matatora
I have always thought of layaway as debt myself. And I really just am not comfortable with owing money. I would go into debt for school or a house (mortgage) but anything else I don’t really “need”. If I want something and I don’t have to money at that exact moment then I will either save for it or do with out. I don’t not think that there is anything wrong with having to save up for something that you desire but if you would rather use lay away and that is what works for you, then go for it!

i have the cash money to buy whatever i want now. my house is paid for, my cars are paid for. it''s just that i find it fun to work for a specific goal ! a lot of the time i pay slowly over time to make me appreciate the jewelry object more and the hours of work that went into it.

in my opnion, layaway is not debt, because you have not yet taken possession of the object. it is still the store''s object.

what an interesting response, thanks!

anyone else?

 

[indecisive]

I agree with Matatora. I see layaway as being debt but instead of making payments to the cc company you are paying to the store. I just save up money in my own account until I have the money to pay for it.

 

[dbgaap]

Well, I think it can be fun to plan ahead and pace yourself and use a little restraint, etc, etc.
So I can see the appeal of layaway.
But I haven''t done it. I have an automatic payroll deduction into a separate account. Every time I get a raise, I increase the deduction.
That''s how I fund things things that are important to me but I don''t feel like explaining too much.

Like wanting real MIkkimoto pearls.
I work with a woman who just forked over some serious cash for real Tahitian pearls.
They are AMAZING.

Anyway, whatever works!

 

[MissAva]

I am sorry I guess I misunderstood your first post, when you referenced your job, I thought you were saying that it was hard to pay things all at once. I define debt as owning money. I was not saying that you were being frivolous, or silly I am sorry if it sounded that way. Just out of curiosity what religion are you?

 

[f0rbidden]

we use layaway.
we have my ring on layaway now.
yes, it''s debt - but it''s interest free debt and it''s debt that doesn''t require anyone pulling a credit report, or reporting to it, so in our quest to own a home, this purchase doesn''t show up at all.

I think layaway is a great option!

 

[ladykemma]

Date: 4/8/2006 11:07:45 PM
Author: JulieN
Lady Kemma, I love Mikimoto. 7mm A+ are $360

Are you ordering AA from BBB?

yeah, it''s what i want. real mimomoto with the M. A+ or AA. I have 7 mm AA studs and a single pearl pendant. the orient is incredible. I want orient first, luster second.

yes, it''s going to be about 5000 - 6000 bucks. ouch. that will be 208 -250 bucks per paycheck for one year.

what do you have in mikimoto? please share?

 

[mrssalvo]

I think layaway can be a great option to achieve a goal without going into debt. I haven''t ever used it because I''d probably change my mind before I finished paying it off

. I also like saving in my own account because of the interest I gain there but it also takes a lot of focus b/c it''s easy to spend that money on other things that become a bigger priority.

 

[ladykemma]

Date: 4/8/2006 11:14:46 PM
Author: Matatora
I am sorry I guess I misunderstood your first post, when you referenced your job, I thought you were saying that it was hard to pay things all at once. I define debt as owning money. I was not saying that you were being frivolous, or silly I am sorry if it sounded that way. Just out of curiosity what religion are you?

no offense taken. i knew this would be a potentially controversial thread. All my salary is "mad money" for us. the remainder goes for travel, fun, and retirement.

I am a member of the church of jesus christ of latter day saints, but somewhat "jack mormon" at the moment.

edited to add: i went to the original post and deleted the misleading introduction "as a school teacher..." to void further confusion.

 

[JulieN]

I have a pendant...that I can't find right now, only have the chain. I like to go to the store in Costa Mesa and look at strands. If you ever get a chance to see a Reserve piece, it's beautiful. Recently I've been acquiring freshwater pieces, though.

 

[ladykemma]

Date: 4/8/2006 11:17:24 PM
Author: f0rbidden
we use layaway.
we have my ring on layaway now.
yes, it''s debt - but it''s interest free debt and it''s debt that doesn''t require anyone pulling a credit report, or reporting to it, so in our quest to own a home, this purchase doesn''t show up at all.

I think layaway is a great option!

i didn''t think about the no interest. huh, good thought!

 

[Kaleigh]

I love Mikimoto. When I worked for the high end jewelry store I got to go to The Mikimoto corporate headquarters in NYC and buy a strand of AA 7mm wholesale. That was such a fun day for me. I adore pearls. Ok back on topic, I see nothing wrong in doing layaway. If it suits you, then fine, go for it.

 

[ladykemma]

Date: 4/8/2006 11:21:27 PM
Author: mrssalvo
I think layaway can be a great option to achieve a goal without going into debt. I haven''t ever used it because I''d probably change my mind before I finished paying it off

. I also like saving in my own account because of the interest I gain there but it also takes a lot of focus b/c it''s easy to spend that money on other things that become a bigger priority.

see, she doesn''t think it''s debt either!

 

[Small]

We use the no interest financing for different things. But we never, ever spend any amount that we could not take out of our savings account and pay for it immediately. If they are willing to let us make payments and I can still earn interest on my money in my account then I''m all for it. We already have a house and cars and excellent credit so I have no worries in those depts. I don''t think payment plans are a bad thing when you can afford it. But going into debt...ie credit cards or loans for luxury items is not my cup of tea so to speak. If I don''t have the money to cover it then I''m not buying it!

 

[ladykemma]

Date: 4/8/2006 11:52:37 PM
Author: Small
We use the no interest financing for different things. But we never, ever spend any amount that we could not take out of our savings account and pay for it immediately. If they are willing to let us make payments and I can still earn interest on my money in my account then I''m all for it. We already have a house and cars and excellent credit so I have no worries in those depts. I don''t think payment plans are a bad thing when you can afford it. But going into debt...ie credit cards or loans for luxury items is not my cup of tea so to speak. If I don''t have the money to cover it then I''m not buying it!

"But we never, ever spend any amount that we could not take out of our savings account and pay for it immediately."

exactly!

 

[decodelighted]

Hey Ladykenna,

At first I thought I''d never used "layaway" but then I just remembered ... I have used it kinda on fine art. Sometimes whem I''m doing a big project I give myself a present at the end of the job to celebrate the accomplishment. At least one time I wanted to give myself a piece of art that was one of a kind, unduplicatable ... but I wasn''t done with the job yet ... so I worked out a deal with the artist to leave a sizable deposit and pay off the rest when the gig was over. I didn''t take possession of the piece (though they actually would have let me). So it was kinda layaway??? It makes the most sense to me when the item is difficult or impossible to replace & might not be available by the time you''re ready to purchase it.

I think it layaway gets a bad rap because of the "payment plans" offered by shopping channels or RentACenter or other places that use the gimmick to convince people that they can afford things they really can''t by breaking it into achievable "payments" -- & ignoring the overall cost of the item.

If it ain''t broke, don''t fix it though! Different things work for different people!

 

[Dancing Fire]

Date: 4/8/2006 11:17:24 PM
Author: f0rbidden
we use layaway.
we have my ring on layaway now.
yes, it''s debt - but it''s interest free debt and it''s debt that doesn''t require anyone pulling a credit report, or reporting to it, so in our quest to own a home, this purchase doesn''t show up at all.

I think layaway is a great option!

not really. the interest is probably figured into the purchase price.

 

[ladykemma]

Date: 4/9/2006 1:16:30 AM
Author: decodelighted
Hey Ladykenna,

At first I thought I''d never used ''layaway'' but then I just remembered ... I have used it kinda on fine art. Sometimes whem I''m doing a big project I give myself a present at the end of the job to celebrate the accomplishment. At least one time I wanted to give myself a piece of art that was one of a kind, unduplicatable ... but I wasn''t done with the job yet ... so I worked out a deal with the artist to leave a sizable deposit and pay off the rest when the gig was over. I didn''t take possession of the piece (though they actually would have let me). So it was kinda layaway??? It makes the most sense to me when the item is difficult or impossible to replace & might not be available by the time you''re ready to purchase it.

I think it layaway gets a bad rap because of the ''payment plans'' offered by shopping channels or RentACenter or other places that use the gimmick to convince people that they can afford things they really can''t by breaking it into achievable ''payments'' -- & ignoring the overall cost of the item.

If it ain''t broke, don''t fix it though! Different things work for different people!

yes, that''s layaway

 

[butterfly 17]

WEll, I have never actuallly used layaway yet, but I am planning to do it when I order my daughter''s furniture.
But in my case, I really don''t see it as layaway as her furniture takes 20 weeks to make and the furniture store only requires a 10% down payment and there is no way I am going to pay for it in full if I don''t actually get it yet. Especially not when it takes 5 months for me to get anyway.
So, regardless if I could pay for it or now right now, there is now way I would pay the entire amount upfront.

It''s just like when you order a custom piece of jewelry, if the person says it''s going to take 4 to 6 weeks to make, you obviously don''t pay for it in advance, you usually pay a down payment and then pay for the piece when you actually recieve it in your hands and are happy with the final product.

So, my plan is to put 10% down and then pay off a small amount each week/month so that when the furniture finally gets here, I will have paid most of it off.

Oh, and the price is really good, so I doubt they added interest into the price, as it is the cheapest that I could find for this set and that is with a 10% discount already.

 

[ladykemma]

Date: 4/9/2006 1:47:42 AM
Author: Dancing Fire

Date: 4/8/2006 11:17:24 PM
Author: f0rbidden
we use layaway.
we have my ring on layaway now.
yes, it''s debt - but it''s interest free debt and it''s debt that doesn''t require anyone pulling a credit report, or reporting to it, so in our quest to own a home, this purchase doesn''t show up at all.

I think layaway is a great option!

not really. the interest is probably figured into the purchase price.

no, it''s the sticker price.

 

[f0rbidden]

Dancing Fire - the price I paid for my jewelry is the same price I would have paid as a cash customer.
so, in this case at least, the interest isn''t figured in -- there just isn''t any, which is nice!

my money stays in my savings account and earns whatever meager interest my bank offers, and I pay off the item I am purchasing over a couple of months.

I think it''s a great option.

 

[woobug02]

WOOOOOOOOOOOOOOOOOOOOOOO thanks for bringing this up. I too have the money to buy things when I want them but also have 3 daughters and now a grandbaby so when I know I have some time (such as anniversary isn''t until July) if I find something I want why not put it in layaway and pick it up when I am ready or have accomplished what I was waiting to accomplish. This way I don''t lose out on what I want but also don''t take out the cash right away. Just like my big diamond I want. In the last year I have spent soooooooooooooooo much money on my setting and getting a smaller but better stone to keep me satisfied that I really don''t want to walk in and just plop down $10,000 today when I am not allowed to wear it until July so I would like to take the time to pay it over the next 90days without financing it. Layaway is fun. You know it is there, you can stop by and peak at it when you pay on it and then make that final payment and pick it up WOOOOOOOOOOOOOOOO just me but I love the option and don''t think of it as debt. Unlike debt if something happened during the layaway and you couldn''t afford it or changed your mind due to wierd circumstances you can get a full refund of your money woo Thanks for posting this.

 

[AndyRosse]

It''s a great option for those who choose or need to use it.

Personally, I have never used it. If I want something that I cannot afford at the moment, I usually save up before purchasing it. Of course, that would not work with a one-of-a-kind piece!

 

[ladykemma]

Date: 4/9/2006 1:16:30 AM
Author: decodelighted
Hey Ladykenna,

At first I thought I'd never used 'layaway' but then I just remembered ... I have used it kinda on fine art. Sometimes whem I'm doing a big project I give myself a present at the end of the job to celebrate the accomplishment. At least one time I wanted to give myself a piece of art that was one of a kind, unduplicatable ... but I wasn't done with the job yet ... so I worked out a deal with the artist to leave a sizable deposit and pay off the rest when the gig was over. I didn't take possession of the piece (though they actually would have let me). So it was kinda layaway??? It makes the most sense to me when the item is difficult or impossible to replace & might not be available by the time you're ready to purchase it.

I think it layaway gets a bad rap because of the 'payment plans' offered by shopping channels or RentACenter or other places that use the gimmick to convince people that they can afford things they really can't by breaking it into achievable 'payments' -- & ignoring the overall cost of the item.

If it ain't broke, don't fix it though! Different things work for different people!

yes, every academic year i reward my self with one large piece. "project mikimoto" begins august 2006.

 

[FireGoddess]

I have also used layaway to buy a piece of art. To me, it''s definitely preferable over a credit card, so I would use it again.

 

[dbgaap]

he he he
I think I have used some of this "layaway logic" and twisted it to meet my purposes.

I just turned 49.
I was not exactly happy about it, either.
So I started thinking I should pick out something I really want and give it to myself in a year when the big five-oh hits.

I considered a major jewelry purchase but I decided on a trip instead.
That would be a mother-daughter European trip while she is studying abroad next year.
We plan to go to a bunch of cities by train so we can see a lot in a short period of time.


So then, it seemed only logical that if I want an upgrade, it needs to happen now!
I cannot justify a bigger diamond AND a trip to Europe in the same time frame. It makes me feel to greedy.
Soooo, that means I get my 1.27 E RB now.

Logic!!

 

[mrssalvo]

Date: 4/8/2006 11:49:14 PM
Author: ladykemma

Date: 4/8/2006 11:21:27 PM

Author: mrssalvo

I think layaway can be a great option to achieve a goal without going into debt. I haven''t ever used it because I''d probably change my mind before I finished paying it off

. I also like saving in my own account because of the interest I gain there but it also takes a lot of focus b/c it''s easy to spend that money on other things that become a bigger priority.

see, she doesn''t think it''s debt either!

I don''t think of it as debt because you can cancel your order and recieve your $ back, minus a small layaway fee that some places charge. You aren''t actually borrowing money from anyone, just paying on a payment plan to the store rather than a savings account.

 

[moon river]

We are about to go that route. I HAD until recently a chunky mall setting with invisible set princess cuts that is about to fall apart. We went to a local B&M and got a .25 ctw 7stone band I picked out to wear til we figure out what to do. The mall store would only replace it if we''d kept up with the every six month inspection which we didn''t. I was recovering from an injury last year and didn''t get out much. So Friday, my guy went and purched me a .20ctw tiny princess cut in a white gold cathedral setting. I love it. Even though it''s a ''baby diamond''or a ''preemie''

. It sparkles soooo much. Anyway we discussed the stores trade up policy. We can put a larger ring in layaway til we get to the price that, added to the price he paid for my ''baby'' ,and trade up. We can keep doing this til we get whatever size we want. Er, I want.

Which by my being on PS can mean FOREVER!!!Maybe I''ll never stop. Who knows

. Right now we''re looking at car repair bills and(much needed) home repairs and I''m about to have ''another'' surgery and be out of work again,so I''ll just be happy with my ''baby'' for now til we''re back to two incomes. But I would definatly go with layaway. I thinks it''s the best thing ever!! I remember from my lurking days a poster,I think Jennifer, would put pieces on layaway with her B&M. Can''t beat it in my book.