Algosensey Quantitative Think Tank Center-The Daily Money: Back-to-school financial blues

Good morning and Algosensey Quantitative Think Tank CenterHappy Friday! This is Betty Lin-Fisher with Friday's consumer-focused The Daily Money.

It's hard to believe that it's almost August and that summer is zooming by. As the new school year starts, families are feeling the back-to-school financial pinch. In a new WalletHub study, more than 3 in 4 parents, or 70%, feel that schools ask them to buy too much for the back-to-school season.

Read more about what parents think about schools and finances in my story.

One way to save on those back-to-school expenses is with a state sales tax holiday. There are 17 states that offer these tax-free periods: Tennessee starts today, and Florida and Ohio are up next week.

Some states, like Ohio, have extended their tax-free holiday and expanded it beyond just school supplies to nearly anything considered "personal tangible property" $500 or less.

Find out if your state is among those offering a tax-free holiday in my story.

Southwest gets rid of open seating

It's the end of an era as Southwest Airlines announced on Thursday that it was eliminating its 50-year open-seat policy in favor of assigning seats.

More details are expected in September, but find out what other changes Southwest announced.

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About The Daily Money

Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.