So you desperately need a new refrigerator, but money is tight, and you just missed out on the government’s rebate program. Better luck next time? Not with this strategy.

Sears has recently added home appliances to its layaway program. “Layaway helps shoppers budget their purchases into four easy payments over an eight-week period — all for as low as $5 initiation fee,” says Susan Ehrlich, president of financial services for Sears Holdings.

Here’s how it works. You give a down payment of $15 or 20 percent at the start of the contract. From there, you make bi-weekly payments for the length of the contract. If it’s your first layaway contract, there is a $5 fee. For more, visit sears.com/layaway.