Our economy has been in the news as of late…and it’s been largely good news! Still, our economy has a ways to go to fully emerge from the Great Recession. Despite our economy’s optimistic turn in recent years, everyone is still wary of spending. Everyone including…the tooth fairy.
The Tooth Fairy in Tight Times
Even a supernatural being such as the tooth fairy cannot avoid the pitfalls of a bad economy. And it shows. The tooth fairy has left on average $3.40 per tooth this year. That’s a 30 cent decrease since 2013, according to a survey from Visa, which is an 8 percent drop in the national average. Despite this drop, prices in 2014 are still higher than in recent years. Over the past last five years, the tooth fairy has left, on average:
- $3 in 2010
- $2.60 in 2011
- $3 in 2012
- $3.70 in 2013.
According to Visa’s vice president of global financial education, tooth inflation brought the price up by more than 14% between 2011 and 2012, and then 23%between 2012 and 2013. According to Vice President Jason Alderman tooth fairy inflation has far exceeded the rate of traditional inflation resulting in this discrepancy. Another insightful tidbit is that, last year, some 6% of fairies left $20 bills for each tooth. This year, less than 4% of kids have earned $20 or more per tooth.
Tooth Fairy and the Economy
So what? That’s an understandable reaction to these numbers. So the kids will get a little less, but it will make them better appreciate money and the benefits of saving. That’s what Visa’s Alderman believes will and has been happening with the tooth fairy’s smaller donations. Market specialists believe the tooth fairy’s actions are more significant—a sign of our economic state of mind and consumer confidence.
When it comes to parents leaving money for their children, Visa—which has been tracking the national dollar-per-tooth average since 2009—has found some amusing details. It seems that dads are more likely to give kids whatever they find in their pockets. Moms, on the other hand, tend to be more deliberate about paying up. On average, fathers say the fairy left about $4.20. For moms, that price was down about 45, or roughly $2.90. So if you’re a kid and have a loose tooth, try losing it while your dad’s around…
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