 TITLE: Layaway or Credit: Which Is Best? CONTENT: Should You Use a Layaway Plan?\n------------------------------\nFor an item you need right away, layaway is inconvenient; but if you can wait, it's an alternative to using credit. Layaway can be smart for budgeting purposes. You can parcel out your payments and integrate them into your spending plan. Layaway also prevents you from opening a credit account that has the potential to balloon out of control.\nSome buyers may find it more beneficial to use a credit card. Using a credit card to make a major purchase helps you build a positive credit history—which will positively factor into your credit scores. Depending on the card, you may even net some cash back or points that go toward rewards.\nIf you'd like to use credit, but don't have a credit card or an established credit history, consider opening a secured credit card. With a secured card, you set money aside with the issuer as a deposit, and you'll have access to a credit line that matches that amount.\nIt's great to have options. A layaway plan can be great when you don't need to have something urgently. Credit is a good alternative when you need something now and will pay it off quickly. If you're concerned that you may not qualify for a credit card or loan because of past problems or mistakes, check your Experian credit report. It's free, and it will give you a look at what in your credit is working for you and what may be working against you. END