from The American Heritage® Dictionary of the English Language, 4th Edition
- n. A payment plan in which a buyer reserves an article of merchandise by placing a deposit with the retailer until the balance is paid in full: bought a suit on layaway.
- n. An article reserved under such a plan.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. Things which have had a deposit placed on them and which the owner (generally a store) has agreed to hold for the customer and accept full payment at a later time.
- n. The system of accepting a deposit and holding for a customer to complete purchase.
- v. To place items on hold with a deposit at a merchant's.
Sorry, no etymologies found.
And business experts who track trends on Google say the number of searches for the term layaway has recently gone way up.
Online trends1 show the word "layaway" has doubled in interest among U.S. searchers in
In some ways, layaway is what happens as you start a business.
A Southern California man is the latest so-called "layaway angel" to spread Christmas cheer by paying the balances on hundreds of layaway accounts at a local Kmart store - to the tune of nearly $16,000.
But the idea of layaway online programs is just a recent development that retailers put into action to widen the presence of their layaway services.
But assuming you're not totally tapped out and are determined to spend within your budget, your best financial strategy might be to follow an old-fashioned, simple idea - something called layaway plans.
A layaway is a low-cost finance method for a customer to make a purchase in installments prior to buying the item.
Jackie O'Malley of Buffalo, New York, calls the layaway plan a guilty pleasure because "it simply makes you feel better when you pay off the last amount (without ever paying interest) and are able to take home your items."
NEW YORK, Nov. 28 (UPI) -- U.S. retailer Sears is bringing back the purchasing system called layaway this year, marking a small comeback for a plan popular during the Great Depression.
Politicians will not be able to resist talking about 'layaway' in this environment, because it provides a way to talk about 'responsibility' that is both new and old at the same time.