Are ‘Buy Now, Pay Later’ Alternatives to Layaway a Good Idea?

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 These services may not ding your credit when you use them, but they have more drawbacks than you might realize. mimagephotography / Shutterstock.com

Editor’s Note: This story originally appeared on Living on the Cheap. If you’re old enough to remember shopping before the internet, you might remember the layaway desk at department stores. Shoppers who wanted to buy a big-ticket item, or do holiday shopping ahead of time, would put the goods “on layaway.” The store would hold the items for them, and the customer would pay for the goods a little…

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