NEW YORK (MainStreet) — Apparently no one is immune to post-recession financial woes. A new survey from Visa reveals that even the Tooth Fairy is feeling some economic pangs, now leaving an average of $2.60 per tooth, a 40-cent decrease from last year’s $3 per tooth average.
The Tooth Fairy’s purse strings have tightened the most in the Eastern U.S., where she leaves just $2.10, a 38% cut from the $3.40 she was leaving in 2010.
Conversely, she’s being most generous in the West and Midwest, where children receive an average of $2.80. The Western region was the one place where children received more this year than last, experiencing a 4% or 10-cent increase from last year’s $2.70. Midwestern children experienced a 10-cent decrease from last year’s $2.90 tooth profits.
We’ve got to give the Tooth Fairy some credit for trying to stretch a dollar, though. Despite her newfound frugality, Visa found that 90% of American children under the age of 12 get a post-tooth visit. The survey includes 1,006 telephone interviews conducted nationwide among adults 18 or older between July 7 and 12, 2011.
Regardless of whether or not they have to cut back on their Tooth Fairy offerings, Visa said that parents should use the monetary gifts as a means to talk money with their children.
“Even simple steps like asking kids what they plan to do with the money and encouraging them to save for a long-term goal can help instill valuable money management lessons that can last a lifetime,” the report said.
Giving out weekly allowances are another way parents can teach children valuable money lessons at a young age. MainStreet’s got tips for the right way to get your child started.
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