by Admin
17. October 2014 15:10
As technology
grows, and culturally we are urged to continuously move forward, occasionally
adopting a practice from the past may be provide practicality we still need and
have forgotten.
One thing that
happened as a result of the downturn in the economy was that people were unable
to rely on credit as they had become accustomed to. This was actually a
healthy reality in that, for some, credit became a monetary vortex from which
it was difficult to recover.
In the good
old days, which I regret to admit I remember, there was a practice called
“layaway”. It originated prior to credit cards.
People would
begin thinking about Christmas and gifts in the fall. They would select a
gift at their local jewelry store, and pay an amount of their choosing and
frequency with the goal of retrieving the article just before Christmas.
It was built
into budgets, consciously planned, and excitedly anticipated. And it
avoided the dreaded January credit card statement, which could make the memory
of the holiday sour.
The benefit
to the jeweler is that they knew what is being sold, had the payments steadily
in hand, and didn’t recognize the sale until completion of the transaction. In
the event the client chose to abandon the layaway, the jewelry the deposit
might have been forfeited.
Maybe this
retro practice would provide a controlled, less stressful, and more enjoyable
approach to the upcoming holiday season.
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