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Stretch Your Dollar: Taking advantage of Tax-Free Week without overspending

Stretch Your Dollar

(WTNH) — Tax-Free Week has begun making this a great week for families to save money. We are stretching your dollar with a look at how you can maximize the savings.

Starting Monday and until Saturday, shoppers can save on the state’s 6.35 percent sales tax on clothing & shoes under $100.

Westfield Mall’s Katherine Bolas says retailers are competing hard for your business and dropping prices on other items too. Stores like the Children’s Place, Justice, Old Navy, and Target all have sales happening this week. The sale is not only on clothes and shoes, but other accessories like backpacks.

Even if you don’t have kids going back to school, you may find something at a deal this week. Remember to think about your needs throughout the year, not just the fall.

Although financial experts warn shoppers to don’t overbuy on items you really don’t need.

“I’m really against people going into credit card debt and firing up the charge card and paying a bunch of interest. You saved the 6.35 percent sales tax, but you don’t want interest rates on your charge cards,” Stuart Pearl, Southern CT Tax Group.

So spend wisely and remember that if you’re buying clothes over $100, look around for coupons to bring it under so you can save on the tax.

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