A survey released by Visa (NYSE:V) shows that the Tooth Fairy is leaving behind more money when collecting tiny teeth.
The winged pixie spent an average of $3.00 per tooth this year, which is 15% more than the $2.60 left in 2011. Could her increased generosity be a sign of economic recovery?
“The Tooth Fairy may be the canary in the economic coal mine,” Visa’s Senior Director of Global Financial Education, Jason Alderman said in a press release. “She’s showing signs of life by leaving 40 cents more per tooth this year.”
Additional key findings in the survey include:
- 3% of children receive less than a dollar, down from 7% last year.
- 30% of children receive exactly $1. Last year’s survey showed that 29% of children received exactly $1.
- 13% of children receive between $2 to $4, down from 18% last year.
- 18% of children receive $5, the same amount as compared to last year.
- 8% of children receive more than $5, compared to 3% last year.
Alderman sees additional benefits to the Tooth Fairy increase.
“This is not only good news for kids, but an ideal teachable moment for parents to engage their children in thinking about how to budget their windfall by saving a portion,” he added.
To help parents answer the perennial question of how much their children should receive from the Tooth Fairy, Visa has created a new mobile app and online calculator that recommends an appropriate amount to leave for each tooth, the company says.
The free app and calculator uses Visa’s survey data and factors in demographics such as gender, age, home state, income and education levels to formulate how much money the Tooth Fairy is leaving in comparable households. The app is available for iPhones and iPads at the iTunes Store, while the calculator is available at: www.PracticalMoneySkills.com/ToothFairy.