Layaway is a purchasing method that allows customers to reserve an item by making a series of payments over time. Instead of paying the full price upfront, shoppers can put down a deposit and then pay off the balance in installments. Once the item is fully paid for, it is released to the customer. This system is often used for larger purchases, such as electronics or furniture, making it easier for people to budget their expenses. Many retailers offer layaway plans, especially during holiday seasons, to help customers manage their spending while securing desired items.