Even Tooth Fairy Feeling Economic Pain


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.

—For the best rates on loans, bank accounts and credit cards, enter your ZIP code at BankingMyWay.com.

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