A recent AP story details the plan of Toys R Us to readopt layaway for the holiday season. And I say HOORAYYYYYY. Too over-the-top? Sorry. Yeah.

Layaway is a tool used by retailers to keep customers buying during tough credit times. The practice started back in, you guessed it, the Great Depression. Customers make a down payment on an item, and then continue to make payments on the item prior to taking possession of it when it is paid in full. It is quite the alternative to taking possession of an item prior to actually owning it. Back in the day (1980s), layaway was a huge strategy for retailers such as Marshalls and TJ Maxx. But the strategy disappeared when retailers figured out that they could instead “sell” you a store credit card, give you the item now, and then charge you ridiculous amounts of interest. Not only that, but since the customer had possession of the item, they were much more likely to make the payment on a non-standard payment schedule (read: late). That is why layaway disappeared. Don’t get it twisted.

And this is why layaway has reappeared. Consumers aren’t qualifying for the revolving credit that stores offer, therefore stores are turning to their old friend, layaway. And as you might have guessed, layaway has returned with a newfound sense of benevolence. Hooray, big business is still allowing consumers to buy things they can’t afford (Google search: sarcasm). But I would take layaway any day, over delay of pay.

About Green Candy™

Green Candy™ (www.GreenCandy.com) is an online financial assessment tool that helps Gen Y-ers and Millennials get on the right financial track before the “debt hits the fan.” Introduced by radio personality, comedian and financial expert Pete the Planner (www.PeteThePlanner.com), Green Candy’s ™ various “pods” allow users to assess their financial health and competency in common areas such as Debt, Budgeting, Investing, Charity, Risk Management and Major Purchases, as well as in areas unique to Gen Y. A subsequent series of targeted worksheets, podcasts, tip sheets, and action plans guides them to the financial promise land. Green Candy™: Get in control before the debt hits the fan.

About Pete the Planner

Pete the Planner (www.PeteThePlanner.com) is expert financial planner Peter Dunn’s super-saving alter ego. Peter is an award-winning comedian and rising star in the financial world. Named one of “Indy’s Best and Brightest” in finance in 2007 and media in 2009 by KPMG, Peter was also declared one of NUVO magazine’s “30 under 30 to Watch in the Arts” for comedy. Peter is the author of What Your Dad Never Taught You About Budgeting (2006) and is the host of the popular radio show Skills Your Dad Never Taught You on News Talk 1430 (WXNT). He blogs regularly at www.petetheplanner.com/blog. Pete appears regularly on Fox News and Fox Business as well as various CBS stations. His newest book, 60 Days to Change, is due out in November.

We have completed our study on Multi Level Marketing. I feel we did a good job of staying objective and making judgements on the informations we found. Feel free to send me an email if you have any questions or comments.

Enjoy the podcast.

About Green Candy™

Green Candy™ (www.GreenCandy.com) is an online financial assessment tool that helps Gen Y-ers and Millennials get on the right financial track before the “debt hits the fan.” Introduced by radio personality, comedian and financial expert Pete the Planner (www.PeteThePlanner.com), Green Candy’s ™ various “pods” allow users to assess their financial health and competency in common areas such as Debt, Budgeting, Investing, Charity, Risk Management and Major Purchases, as well as in areas unique to Gen Y. A subsequent series of targeted worksheets, podcasts, tip sheets, and action plans guides them to the financial promise land. Green Candy™: Get in control before the debt hits the fan.

About Pete the Planner

Pete the Planner (www.PeteThePlanner.com) is expert financial planner Peter Dunn’s super-saving alter ego. Peter is an award-winning comedian and rising star in the financial world. Named one of “Indy’s Best and Brightest” in finance in 2007 and media in 2009 by KPMG, Peter was also declared one of NUVO magazine’s “30 under 30 to Watch in the Arts” for comedy. Peter is the author of What Your Dad Never Taught You About Budgeting (2006) and is the host of the popular radio show Skills Your Dad Never Taught You on News Talk 1430 (WXNT). He blogs regularly at www.petetheplanner.com/blog. Pete appears regularly on Fox News and Fox Business as well as various CBS stations. His newest book, 60 Days to Change, is due out in November.

My segment on 24 Hour News 8 on 10/14/09

Don’t get me wrong. I am huge fan of the obvious, and in fact, as a quasi-journalist, I often restate the obvious. So I am pleased to inform you, based on recent study by Equifax, Moody’s, Economy.com, that if you make less than $30k per year you have over a 30% chance of default or delinquency on your mortgage. Wow, that’s refreshing. What is also interesting to note is that you have over a 5% chance of default or delinquency if you make $80k per year.

This just in to the Pete the Planner newsroom….the grass is green.

Be sure to sign up for book updates here. My new book, 60 Days to Change: A Daily How-To Guide With Actionable Tips for Improving Your Financial Life will be available in November.

There has been a tremendous amount of buzz over our latest radio show. Well, here it is. You can judge for yourself whether or not this is a fair assessment of a controversial industry. We would love to hear your comments. Please post comments on this blog, or simply email me at pete @petetheplanner.com

Here is the Podcast. Enjoy

About Green Candy™

Green Candy™ (www.GreenCandy.com) is an online financial assessment tool that helps Gen Y-ers and Millennials get on the right financial track before the “debt hits the fan.” Introduced by radio personality, comedian and financial expert Pete the Planner (www.PeteThePlanner.com), Green Candy’s ™ various “pods” allow users to assess their financial health and competency in common areas such as Debt, Budgeting, Investing, Charity, Risk Management and Major Purchases, as well as in areas unique to Gen Y. A subsequent series of targeted worksheets, podcasts, tip sheets, and action plans guides them to the financial promise land. Green Candy™: Get in control before the debt hits the fan.

About Pete the Planner

Pete the Planner (www.PeteThePlanner.com) is expert financial planner Peter Dunn’s super-saving alter ego. Peter is an award-winning comedian and rising star in the financial world. Named one of “Indy’s Best and Brightest” in finance in 2007 and media in 2009 by KPMG, Peter was also declared one of NUVO magazine’s “30 under 30 to Watch in the Arts” for comedy. Peter is the author of What Your Dad Never Taught You About Budgeting (2006) and is the host of the popular radio show Skills Your Dad Never Taught You on News Talk 1430 (WXNT). He blogs regularly at www.petetheplanner.com/blog. Pete appears regularly on Fox News and Fox Business as well as various CBS stations. His newest book, 60 Days to Change, is due out in November.

After tons of email asking whether I thought MLM companies were legit or a scam, I decided to find out for myself. I have been working on a story on Multi-Level Marketing (Network Marketing) for a couple of months now. I have studied 10 MLM companies and their compensation structures. I have interviewed salespeople, ex-salespeople, and a CEO of an MLM. I have learned a tremendous amount of dos and don’t, and I’m going to share them all with you.

Starting Oct 4th at 11 am on News Talk 1430 AM, I will unravel the world of mulit-level marketing. There is one thing that I am sure of, this is sure to cause controversy. I have been banned from sales rallies, I have been emailed numerous “warnings”, and I have even made some unlikely friends.

I will be previewing my story on Abdul in the Morning (1430 WXNT Indy) on Oct 1 at 8:30 am and Smiley in the Morning at 8:50 am (99.5 WZPL Indy). Tune in.

My neighborhood is having a community Garage Sale this weekend. I saw the sign on my drive to work. I never participate in these sorts of things because I’m generally freaked out by strangers milling around my garage. However, I decided that I would participate this weekend in the name of (financial) science. It’s Eat What You Earn Weekend. Okay, I made that up. But why not?

We are going to use the money we make in this impromptu Garage Sale to pay for dinner on Saturday night. If we make $20, then we eat cheap. If we make $150, then I’ll be calling a cab….kidding.

Do it.

About Green Candy™

Green Candy™ (www.GreenCandy.com) is an online financial assessment tool that helps Gen Y-ers and Millennials get on the right financial track before the “debt hits the fan.” Introduced by radio personality, comedian and financial expert Pete the Planner (www.PeteThePlanner.com), Green Candy’s ™ various “pods” allow users to assess their financial health and competency in common areas such as Debt, Budgeting, Investing, Charity, Risk Management and Major Purchases, as well as in areas unique to Gen Y. A subsequent series of targeted worksheets, podcasts, tip sheets, and action plans guides them to the financial promise land. Green Candy™: Get in control before the debt hits the fan.

About Pete the Planner

Pete the Planner (www.PeteThePlanner.com) is expert financial planner Peter Dunn’s super-saving alter ego. Peter is an award-winning comedian and rising star in the financial world. Named one of “Indy’s Best and Brightest” in finance in 2007 and media in 2009 by KPMG, Peter was also declared one of NUVO magazine’s “30 under 30 to Watch in the Arts” for comedy. Peter is the author of What Your Dad Never Taught You About Budgeting (2006) and is the host of the popular radio show Skills Your Dad Never Taught You on News Talk 1430 (WXNT). He blogs regularly at www.petetheplanner.com/blog. Pete appears regularly on Fox News and Fox Business as well as various CBS stations. His newest book, 60 Days to Change, is due out in November.

Americans are up in arms over the outrageous overdraft fees that are being charged by banks today. You know how it goes…your account runs out of money, and your bank just punches you in the face with overdraft fees until you replenish your account. Many of us have had that $40 cup of coffee ($4 coffee and $36 overdraft fee). Banks, including Chase, reorder your transactions on any given business day to make sure that bigger purchases clear before smaller purchases. The result: tons of overdraft fees on small purchases. Banks are clearly taking advantage of people who chose not to practice the art of financial awareness.

But don’t get it twisted. I’m not the guy to yell at the blanks, my job is to yell at YOU. I’m not going to ask the banks to stop bailing you out of dumb financial situations. You need to take responsibility for your actions. That being said, I would rather banks simply have your debit card decline, opposed to extend overdraft protection. Here are Pete the Planner’s 5 Tips for Avoiding Overdraft Fees.

1. Know your banks policy- Sounds pretty obvious, but it’s likely that you aren’t operating on a fair playing field if you don’t know the rules. If you are aloud to opt out of overdraft protection, do it. I would rather you be embarrassed by a card decline, then get drilled with hundreds of dollars worth of stupid fees.

2. Count your transactions- Forget overdraft protection for a second, if you don’t know how many times you actually handover your debit card, then you have bigger problems to deal with. You shouldn’t use your debit card more than 10 times per week.

3. Use cash- Old fashion, I know. But it is the ONLY true way to not have overdraft fees. It is the abstinence of the financial world. Awkward….

4. Visit your online banking account frequently- I generally don’t advise that you hover over your money, but if you have an overdraft problem, then be sure to use online banking. Not even the dumbest people in the world would spend money that they see that they don’t have.

5. Communicate with your partner or spouse- Many overdraft fees happen when two people use the same checking account. Be sure to talk about your purchase habits regularly. Communication is the key to accountability, and accountability is what you need.

And don’t forget, don’t rely on the banks to help you. This is your money, and your financial life. You can do it.

Tips courtesy of….me. From my Fox News appearance on 9/29/2009

About Green Candy™

Green Candy™ (www.GreenCandy.com) is an online financial assessment tool that helps Gen Y-ers and Millennials get on the right financial track before the “debt hits the fan.” Introduced by radio personality, comedian and financial expert Pete the Planner (www.PeteThePlanner.com), Green Candy’s ™ various “pods” allow users to assess their financial health and competency in common areas such as Debt, Budgeting, Investing, Charity, Risk Management and Major Purchases, as well as in areas unique to Gen Y. A subsequent series of targeted worksheets, podcasts, tip sheets, and action plans guides them to the financial promise land. Green Candy™: Get in control before the debt hits the fan.

About Pete the Planner

Pete the Planner (www.PeteThePlanner.com) is expert financial planner Peter Dunn’s super-saving alter ego. Peter is an award-winning comedian and rising star in the financial world. Named one of “Indy’s Best and Brightest” in finance in 2007 and media in 2009 by KPMG, Peter was also declared one of NUVO magazine’s “30 under 30 to Watch in the Arts” for comedy. Peter is the author of What Your Dad Never Taught You About Budgeting (2006) and is the host of the popular radio show Skills Your Dad Never Taught You on News Talk 1430 (WXNT). He blogs regularly at www.petetheplanner.com/blog. Pete appears regularly on Fox News and Fox Business as well as various CBS stations. His newest book, 60 Days to Change, is due out in November.