layaways
Gradual purchase arrangements
Layaways are items a store holds for a customer who pays in installments before taking possession.
The layaway system lets buyers reserve merchandise without credit cards—you put something on layaway, make payments over time, and collect it when paid off: Holiday layaways start in October.
The practice declined with widespread credit but persists at some retailers.
Periodic partial payments
- down paymentInitial sum toward purchase
- partial paymentFraction of amount owed
- deferred paymentBuying before paying
- payment planArranged installment schedule
interest-free · prepay · balance · affordability · budget management · price lock · commitment · agreement
Commercial products offered
- storeRetail establishment
- department storeLarge multi-section retail establishment
- inventoryCatalog of held assets
- holdMaintain in grasp
item · ticket · receipt · catalogue · retailer · consumer · stock · policy
Accumulated money kept
- financial disciplineManaging money responsibly
- money managementOverseeing personal funds
- frugalityEconomical resource management
- thriftinessHabit of avoiding waste
affordability · planning · expense tracking · cost control · cash-strapped · low-income · holiday shopping · back-to-school
Maintain in grasp
- reserveSupply kept back
- securedMade fast or obtained
- bookingAdvance arrangement secured
- slotNarrow slit for insertion
allocation · provisional · tentative · commitment · claim · set aside · earmarked · pending
installments
Periodic partial payments
- down paymentInitial sum toward purchase
- partial paymentFraction of amount owed
- deferred paymentBuying before paying
payment plan · interest-free · prepay · balance · affordability · budget management · price lock · commitment · agreement · contract
merchandise
Commercial products offered
- storeRetail establishment
- department storeLarge multi-section retail establishment
- inventoryCatalog of held assets
hold · item · ticket · receipt · catalogue · retailer · consumer · stock · policy · checkout
savings
Accumulated money kept
- financial disciplineManaging money responsibly
- money managementOverseeing personal funds
- frugalityEconomical resource management
thriftiness · affordability · planning · expense tracking · cost control · cash-strapped · low-income · holiday shopping · back-to-school · big-ticket items
hold
Maintain in grasp
slot · allocation · provisional · tentative · commitment · claim · set aside · earmarked · pending · awaiting
layawaysfinancing
Providing capital for purchases
installment loans · buy now pay later · store credit · charge accounts
- layaway planPrepayment purchase arrangement