DALLAS (CBSDFW.COM) – In case you need a reminder, it’s a holiday weekend for your wallet or pocketbook.
The state’s annual sales tax free weekend every August coincides with back to school shopping.
We’ve never had a sales tax free weekend in Texas with inflation at a level like we are seeing right now.
So financial experts recommend you buy big or stay home.
Jack Casey finished up a day long shopping spree for the 18-year-old, who’s off to college soon.
“So we’re getting all the last minute necessities, school supplies, clothes, shoes,” Casey said.
They waited for this weekend when clothing and school supplies can be purchased in Texas with no sales tax added.
“We’ve probably spent a couple a hundred,” said Meredith Casey, Jack’s mom. “So you know 8% of that is around 20 bucks. But that’s, you know, nowadays…that’s a tank of gas.”
Many of the items under $100 you can purchase tax free are things you probably already know such as clothing, footwear, backpacks and school supplies.
But the list also includes medical scrubs, religious clothing, fishing and hunting vests and baby supplies.
“A savings of 8%, that’s nice but it’s not a reason to drop everything and run to the store,” Financial advisor Bill Dendy said.
Dendy said people who get the most bang for the buck this weekend buy a lot or at least more expensive items close to the $100 limit.
“In general, smart savers are looking for the bigger ticket items that are on sale but also have that 8% discount,” Dendy said. “So buying things like shoes that may be on sale.”
The state expects the total savings from the weekend to be around $112 million.