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  • Budgeting Works!

    To gain financial freedom you must take control of your money, plan for the future and Stop Borrowing Money!
    Two families striving to gain financial freedom share their experiences.
    Blog Author Mona Weathers (monawea)


    Co-author, Manda C.

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Lay-away vs. Borrowing Money To Purchase

There is a certain feeling that comes with owning something. This feeling does not come when you have 90 days same as cash, or ‘no payments’ until 2008. Consumers are being fed the lie that says using credit cards to buy something means the same as owning something outright. The television ads expect it, your neighbors encourage it and even your Mama borrows money. So what’s the problem?

I remember a few years back I was working a part time job that was actually ‘extra’ money for our family. My husband and I decided we were going to use the money I made from this job to buy new furniture. We could have opted to put these items on credit cards but instead we went the lay-away route. Every paycheck I would go over to the furniture store and pay on the lay-away. There was a definite satisfaction that came from knowing that each dollar I put into the lay-away was going to pay for my furniture. There was no interest added because the items were still at the furniture store. It was an uncomplicated transaction and even more satisfaction came when we paid off the lay-away and brought the furniture home.

We bought and entire bedroom set and by having a little patience it was paid in full with no interest added. What happen to the days when people paid in full for things. It used to be that you would pay for a car – in full? What happen to world that said I will save and then I will buy? Very few people in the US treat spending this way anymore.

Next time you are tempted to by furniture on a credit card try lay-away. You might be amazed at how rewarding it is to pay it in full before you take it home.

Looking for free solid financial advice? Visit Dave Ramsey.

April 26, 2007 | Filed Under Credit Card Use, Dave Ramsey Financial Freedom, Financial Advice 

3 Responses to “Lay-away vs. Borrowing Money To Purchase”

  1. bryan on April 26th, 2007

    thats awesome.i never tried lay-away payment but is it something like cash advance type?Blog Hunt url is fixed now you can check it.

  2. bryan on April 29th, 2007

    Hi Mona,its nice to see your blog over there in Blog Hunt but I am also surprised as you have submitted it once again anyways I have casted my vote to your blog once again.My suggestion for you is to submit 9 more blogs to that contest as you can submit 10 blogs there.
    BTW no more post for last few days!Are you ok?

  3. Mona on April 30th, 2007

    Hi Bryan,
    I guess I was confused about BlogHunt thing. I didn’t realize I was already listed. I didn’t really have much time to check it out. Thanks for voting for me.
    I have been working on setting up a new blog the last few weeks and the launch date is tomorrow so I haven’t had time to post here. As soon as I am finished setting up this new blog I plan to make a blogging schedule that will allow me to post every day on this blog and my new blog. I will be announcing the new blog tomorrow.

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