Tooth Fairy, how much are my teeth worth this year? According to the Economics Fairy, (or a new study), the cost of canines are keeping up with inflation, and a lost tooth under a pillow now goes for an average of $3.68, reports money.msn.com on Aug. 29.
The days of a quarter or a dollar are long gone. It’s expensive to be a kid these days – there rarely are any penny candies at the corner mart, movie rentals are a couple bucks and if you want a cell phone, well, better hope you have a few hundred teeth.
A study conducted on behalf of Visa showed that 36 percent of parents still give their children a buck for each tooth. (Ten percent of parent give nothing.) But some kids are getting a lot more – shh, don’t tell your kids, but the average price per lost tooth in the Northeast is topping four dollars these days, $4.10 to be exact.
Western states are paying an average of $3.70, Southern states are giving $3.60, and the least amount, from the Midwest, is $3.30 per tooth.
Demographics played a part too. The younger parents paid out more -- a logical conclusion based on spending habits of a younger generation versus a thriftier baby boomer.
“The survey found that 10% of kids are getting $5 per tooth. Visa said that's triple the number reported in 2011, indicating significant inflation in teeth rewards. A lot of kids get even more. About 6% reported tooth fairy payouts of $20 a tooth and an additional 2% reported $50 a tooth,” says MSN.
$20 or $50 per tooth? Yikes. Are these teeth loaded up with gold fillings?
“The Tooth Fairy is throwing money around like pixie dust,” Nat Sillin, Visa’s head of U.S. Financial Education, said. “While more money is exciting news for children, parents should take this opportunity to talk saving and smart money habits with their kids and have the same talk with a perhaps overgenerous Tooth Fairy.”
So next time you go to leave a few quarters or a buck under their pillow, don’t be surprised to see a ransom note demanding more, next to a credit card machine.