Layaway is the topic du jour in consumer news this month as big-box retailers like Walmart, Kmart and Toys 'R Us battle it out for the best interest-free payment options this holiday season. With recent announcements of reduced or eliminated fees and extended repayment periods, layaway seems to be a smart option for cash-strapped shoppers.
Though some will find the benefits of layaway attractive, there is a method to the retailers' collective madness that everyone should be aware of. So before you get caught up in the layaway hype, consider these six reasons why holiday layaway may not be the right shopping strategy for you.