[EddieDante]

For me, the point of layaway is that I want something enough to commit to paying for it in advance a little at a time. A savings accounts is fungible; it isn't necessarily dedicated to anything and subject to me raiding it if I need to cover an unexpected expense.

Incidentally, where do you live that the interest on a mere savings account is worthwhile on a timescale of years rather than decades or centuries? Or am I taking "savings account" too literally when you mean things like certificates of deposit or money-market accounts?

[lotsofpulp]

> For me, the point of layaway is that I want something enough to commit to paying for it in advance a little at a time. A savings accounts is fungible; it isn't necessarily dedicated to anything and subject to me raiding it if I need to cover an unexpected expense.

You are making dhosek’s argument for them.

[EddieDante]

How so? By acknowledging the general utility of savings accounts while explaining why in some cases they aren't fit for purpose?

[lotsofpulp]

For what purpose are they not fit? They can do the same thing paying for layaway would, plus you get the protection of being able to use it for unexpected expenses.

[EddieDante]

If you didn't grow up working-poor and unbanked in the twentieth century you probably wouldn't understand.