WASHINGTON (CBSDC) – The tooth fairy has apparently asked for a raise.
The tooth fairy isn’t immune to inflation according to a new report by USA Today. Parents have seen the going rate for a tooth rise 15% in just one year, bringing the national average to $3 per baby tooth.
“It’s a good time to be a kid with a loose tooth,” Jason Alderman, Visa’s senior director of global financial education, tells USA Today. The study conducted by Visa shows some children even get as much as $20 per tooth.
But psychologists say parents should be wary of the greedy tooth fairy. A child who receives too many financial rewards can be left with a distorted perception of money.
The reports says it’s actually competition between parents which is fueling these skyrocketing tooth prices. No one wants their child to be the one who’s made fun of on the playground for a cheap visit from the tooth fairy.
Luckily parents can gauge the average payout to a child now with the help of a new app from Visa. The “Tooth Fairy Calculator” available for the iPhone, iPad and Facebook determines the bounty a child should expect for their teeth based on the parent’s gender, education, location, age and income.