Experts consider the Tooth Fairy to be a valuable teachable moment about the importance of saving.
The Tooth Fairy is “fluttering down to earth,” according to Visa’s annual survey that finds for the second consecutive year a decline in the amount of money the Tooth Fairy is leaving under American children’s pillows for their teeth.
American children are receiving an average of $3.19 per lost tooth, a decrease of 24 cents from last year, the Tooth Fairy survey finds. Children can expect to receive approximately $64 on the road to adult teeth, down from $74 only two years ago.
This year’s survey comprises 4,027 telephone interviews conducted nationally. The highest percentage of respondents (32 percent) said that the Tooth Fairy left $1 for a discarded tooth, while 20 percent said that the Tooth Fairy left $5. Five percent of households found the Tooth Fairy to be in a particularly generous mood after receiving a whipping $5 for a tooth.
When it comes to tooth reimbursement, gender and location are factors in what a tooth will fetch. For the second consecutive year, fathers reported a far more indulgent Tooth Fairy than did mothers ($3.63 per tooth vs. $2.87). The average per tooth received by children in the Northeast was $3.56 compared with $3.13 for Midwestern children and just under $3.10 for children in the West and South.
The Tooth Fairy has value beyond the financial gifts it brings. “No matter how much is left under the pillow, a visit from the Tooth Fairy is an ideal opportunity to talk with children about the importance of saving and budgeting,” noted Nat Sillin, Visa’s director of global financial education, in a statement.
Financial literacy is prized among Affluent investors, Spectrem Group research finds. This extends to their children. Nearly half (45 percent) of households who have made the decision to tell their children about the family’s net worth, said they wanted to teach them about financial matters, such as saving for the future.
Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.
A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.