Thinking of Christmas before Labor Day? Walmart holiday layaway plan begins Aug. 31

BENTONVILLE, Ark. (KGO) -- We're approaching Labor Day weekend, but the world's biggest retailer is already thinking ahead.

On August 31, Walmart opened up its holiday layaway service so customers can begin their Christmas shopping. Layaway allows customers to reserve an item with a deposit. After making periodic payments, customers can take the item home when the balance is paid off. Layaway fees often cost customers less than interest on a credit card.

Walmart only offers layaway for in-store shopping. It is not available for online purchases.

Sears offers a layaway program that's available year-round, as does Kmart. Target does not provide a layaway service.