Tooth Fairy Spending Flies High

No longer just a mystical being, the tooth fairy has become a serious expense for families. A new survey from Visa shows that children are raking in an average of $3.70 per tooth, a 23 percent increase from $3 in 2012. That means a full set of 20 baby teeth goes for $74 these days.

Luckily, Visa’s free Tooth Fairy Calculator can help you determine just how much to leave your little trooper. Available for iPhones and iPads as well as on Facebook, the app allows you to enter several demographic factors, including gender, age and income, to see what the famed pixie is leaving at other similar households.

Though you don’t have to follow the app’s projections, it could be a great opportunity to teach your child the value of money.

When I was a kid, a visit from the tooth fairy always made the pain of shedding a molar worthwhile. Her offerings were greater than allowance because they appeared as if by magic. It made me want to hoard the cash even more to save for an extra special purchase.

Looking back, the tooth fairy sparked the saving bug that would later become so important in my transition to adulthood. A frugal fairy isn’t any less caring about the turmoil of losing baby teeth. She’s just more focused on making sure your guy or girl learns good spending habits for the future.

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