78% of people who responded to Fannie Mae’s latest survey said they thought the economy was headed down the wrong track and for the fourth month in a row, there’s been an increase in the number of people reporting a financial decline.
Wal-Mart believes it, because they’re doing something they haven’t done in awhile — offering holiday layaway on toys and electronics.
When I was a kid, layaway was as common as the bank Christmas Club. It was the perfect way to spread out gift-buying expenses albeit a strain on the gas tank as you drove back to the store every week to plunk down the payment due. As credit cards became more popular, layaway faded into the background and Wal-Mart discontinued the program in 2006.