Tax-Free, Stress- Free
How to get ready for Back-to School without losing your cool
We all know preparation for back to school is stressful enough, but then you add on all those extra costs of Backpacks, and Binders and Wardrobe……O My .
The average parent expects to spend over $600 on school supplies this 2022-2023 year and, in this market where every dollar counts……… we’re looking for a few Life Hacks.
Agent Katie's Daughter going into first day of school.
The Ohio Tax Free Weekend-
From August 5th- August 7th, Ohio’s Tax-free weekend will be in full effect and many of us will be taking advantage this year. With no limit on your total purchase amount, this is the perfect time to get everything your family needs free of sales tax. Although that extra sales tax may not seem like much on an item here and there, when we start furnishing dorms, stocking up on school supplies and dressing the kids for the upcoming school year, that 5.75% can add up quickly.
The Ohio Dept of Taxation guidelines for the 2022 Tax-Free weekend:
Ø An item of clothing priced at $75 or less
Ø An item of school supplies priced at $20 or less; and
Ø An item of school instructional material priced at $20 or less.
Think outside the Mall-
Restocking the wardrobe, decorating that new dorm, tracking down their favorite character folder… it's going to cost an arm and a leg, right? WRONG!
You’d be amazed at what you can find at your local businesses, discount outlets and thrift stores. Instead of spending $30 on that new top, fill your cart with clothing, footwear, accessories and more for the same price! And guess what? You don’t have to fight the crowds this weekend at the big box stores. Your local small businesses and secondhand stores participate in the Tax-free weekend too!
We recently visited some of our favorite local businesses to put our money where our mouth is and show you how far your dollar can go.
Finding savings during school-
When the school year begins don’t forget, there are several discounts and coverages extended to your family! The good student discount can be applied with many insurance carriers, if you have a youthful driver* in the home that obtains a GPA of 3.0 or higher. It is as simple as providing proof of their good grades and can qualify them for savings on your policy to help build that college fund… Or vacation fund… Up to you Mom and Dad!
Check with your local Hostetler Insurance Group agent today to see if your youthful driver qualifies!
Speaking of college, some of us will be loading up the van and helping get the kids settled into their new dorm room this year. Did you know that your current homeowner’s policy will extend 10% of your Homeowners policy personal property coverage to your belongings off the premises? That means if your home's contents are currently covered for $200,000 your child has $20,000 in coverage for everything they’ll be bringing to school! Living off campus? Not a problem, Tenant policies for apartments and rental homes are extremely competitive in pricing and can cost less than your monthly Starbucks budget. Give us a call and we can tell you how low your monthly premium would be!
It takes a Village-
When it comes to back-to-school spending, we’re all in the same boat, and that thought can be very helpful, reach out to other parents! Whether it be friends, family, or your child’s new classmates. Buying school supplies in bulk and cost sharing with other parents can help dramatically cut your spending and keep your budget intact. And let’s not forget, we all have that pair of new dress shoes we bought last year that the kids grew out of before wearing or that extra winter coat that they just don’t need, trade with your fellow parents!
With this in mind, we hope that you can save and prepare for this upcoming school year, no matter what phase of life your kids are in. Whether it be saving money on your insurance needs or on clothes, supplies and dorm furnishings Hostetler Insurance Group is here for you! Please contact us today or give us a call at 330.871.9580 to get a quote for all your insurance needs.
Here is a look back at a couple of our agents starting off the school year.
Left: Agent Nate Hostetler moving into The Ohio State University.
Right: Agent Madison Hostetler going into her first day of 8th grade and Agent Jake Hostetler going in his first day of 9th grade.
*A youthful driver is a household driver 16 and older that currently attends school and obtains a GPA of 3.0 or higher.
<a href="https://www.freepik.com/photos/group-children">Group of children photo created by tirachard - www.freepik.com</a>