Found something you love, but can’t afford to spend the money all at once? Don’t give up on your dreams just yet; with a great layaway plan, what seems out of reach can indeed be a reality.

Layaway may sound like an old-school concept, especially in today’s “buy now, pay later” society, but the idea of setting aside an item to pay off gradually is making a comeback, and is being praised as a way to regain control of family finances and make sure those ‘fun’ purchases don’t fall victim to the economic downturn.

While a layaway plan does not allow buyers to come away with their desired item right away, it does give shoppers the opportunity of purchasing high-quality pieces interest free, and helps those eager plastic-wielders to stay away from high-interest credit card purchases.

Layaway has a way of working like a forced savings; instead of trying to save up to buy something you want, you are committed to making payments on something that is already yours. We all know the temptations of saving money; we tend to take a little here and there for other needs or wants. But if you are in fact committed to a monthly payment, you are inclined to set that money aside before spending it on other luxuries.

After all, good things come to those who wait; those who use credit cards end up paying more.