[bityard]

It was a concept designed for the low- to middle-class in a very different era than what we have now. Especially in rural areas, banks were not often used by those who probably needed them the most, for a variety of reasons. Lots of workers were either paid in cash, or cashed their paycheck weekly at the local grocery/department/liquor store.

Even today, lots of people have the issue where if they _have_ money, they are compelled to spend it on frivolous things like entertainment and alcohol. Layaway was an easy and convenient tool that people could use to make sure they were putting at least some of their money toward things they really wanted.