NEW YORK —
“I think we were on the cheap side,” he says. Other families gave about $5 a tooth. One family gave their kid an antique typewriter. “I have no idea how they got that to fit under the pillow,” he laughs.
As part of the company’s personal finance education program, Visa offers a downloadable Tooth Fairy Calculator app that will give you an idea of how much parents in your age group, income bracket and education level are giving their kids, says Alderman. The newly updated app is available for iPhones and iPads on iTunes, and the calculator is available on the Facebook apps page.
“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,” says Nat Sillin, who runs Visa’s financial education program in the U.S.
How much kids are getting from the Tooth Fairy depends on where they live. Kids in the Northeast are getting the most, according to the Visa study, at $4.10 per tooth. In the West and South, kids received $3.70 and $3.60 per tooth, respectively. Midwestern kids received the least, at $3.30 a tooth. About a third of all parents surveyed say the Tooth Fairy left a dollar or less.
Then there are the heavy hitters.
After losing her first tooth, 5-year-old Caroline Ries found a $100 bill under her pillow, along with a brand new My Little Pony toothbrush and a tube of toothpaste. But there was a catch.
Her mother, Nina Ries, also left a note saying that the $100 had to go straight to Caroline’s college fund. The Tooth Fairy would give her another $20 to spend anyway she likes if she brushes her teeth every day after lunch for a month. She did, and 30 days later Caroline found $20 under her pillow.