While it’s technically not even fall yet, it’s never too early to start planning for the holidays — especially when it comes to saving up to buy gifts for your loved ones.
Walmart’s layaway plans are available starting today, Aug. 31, through Dec. 10, so you can start your shopping early, but slowly pay for the gifts all the way to December.
You do not need to use a credit card and there is no interest on your purchase, so you won’t end up paying any extra money in the long run.
Layaway is for in-store purchases only, so if you’ll be shopping online, be aware that you will need to pay for the merchandise in full when you order.
So, how does Walmart layaway work? To put an item on layaway, bring it (or the “tear pad” ticket if the item is large) to the “pickup service desk” at your local store.
You do not need to pay a fee to begin the layaway — all you need is a down payment of $10 or 10 percent (whichever is greater).
In order for an item to qualify for layaway, the single item must cost $10 or more, and your total purchase must be $50 or more. You can make payments anytime at any register in the store and you can sign up for email or text reminders about payments.
The final layaway payment and pickup of the item must be made at the same store where it was initiated before the last day of layaway — otherwise the account will be canceled. If the account gets canceled, the items will be returned to inventory, but you will get your down payment and payments made refunded, minus a $10 cancellation fee in most states.
Walmart’s layaway excludes wireless phones and contracts, but does include the following items:
- Electronics (without service plans)
- Small appliances
- Large furniture
- Auto electronics
- Sporting goods (select items)
- Infant toys
- Infant furniture
One additional restriction: Layaway will not be available on Thursday, Nov. 22.
If you’d like more information about Walmart’s holiday layaway plan, just visit their website or check your local store for details. Have you ever used a layaway payment system for holiday shopping?