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Tax-Free Weekend Helps Families Save Money

DES MOINES, Iowa – It doesn’t come with the mad-dash down the aisles or the long lines of Black Friday but hundreds of shoppers will be in search of savings this weekend, but experts say don’t get too carried away.

A financial professor at Drake University says when people hear the words tax-free it’s a shopping motivator.

“You definitely don`t want to get to over excited about the whole idea. Yes, you’re going to save money but it’s not a huge amount that you are going to save,” says Tom Root.

Root says those who benefit the most from the weekend are usually large families– spending more than $500. Regardless of the size of the family, he says families should head to the mall with a plan.

“It’s really knowing what you need and having an idea ahead of time of what you’re shopping for.”

Iowa’s state tax is six-percent, that amount is exempt on all clothing and footwear under $100.

Iowa is one of 14 states participating in a tax-free holiday. The event starts tomorrow and runs through Saturday.

Find out which items you can buy tax-free during the  tax holiday weekend here.



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