Christmas 2012: Walmart layaway begins 9/16!

When finances are stretched thinner than Angel Hair pasta, it's important to plan for holiday purchases as far in advance as you can reasonably do so.  For some of my readers, the layaway option might appeal to them.  Layaway starts at Walmart on September 16.  Here's a link to read more about Walmart's layaway policy, but some details are linked below:

• $10 or 10% down (whichever is greater)
• $15 open fee (refundable on a Walmart gift card)
• Longer period than last year --- you'll have until 11 days before Christmas to pick up your items.
• $15 minimum per item or a $50 total purchase
• You can layaway toys, electronics, jewelry (though jewelry layaway is available year round), small appliances, and select sporting goods.

To be honest, I've never laid items away, though I know some people who have.  What are your thoughts on layway?  Please share in the comments below.