The math is off. $455 is not $450 + 15%.  15% of $450 is 67.50....Layaway is way cheaper than 15 percent interest on a credit card.  According to the example, $455 layaway vs. (450 + 67.50) for the theoretical credit card.  A $5 fee is a lot closer to 1%.   Layaway is much cheaper than the credit card option (in the...more

We also live on quite little~$24,700/year, and we are a family of 4 with two little kids!  Obviously we live very cheaply, but also happily.  A year ago our income was more than double and we are much happier now-go figure.  We live off only our present income, and can save ~$200/month Our expenses go like this: Rent f...more