It looks like the Tooth Fairy is more generous than ever before.
RoosterMoney, an allowance and chore tracking app, surveyed 35,000 of its users and found that kids get an average of $4.90 every time they lose a tooth. The typical kid has 20 baby teeth to lose, so by the time all of their adult teeth have come in they could have made about $100. Is it tooth fairy inflation? Maybe.
That’s a lot of cash! Especially for a kid just starting their elementary school career, which is when teeth tend to start falling out.
What’s also interesting is that, despite plunging consumer confidence, parents are making the Tooth Fairy any stingier. The nearly five dollar average kids are getting per tooth is a record high for the survey.
A separate survey, published in 2015, found that kids were getting $4.36 per tooth. Another found that the rate was $3.25 in 2018. Different sampling methods impact these estimates, but it seems clear that the rate per tooth is on the rise.
RoosterMoney’s survey found that the five bucks a tooth is augmenting an average allowance of $8.44 a week and holiday cash gifts of around $58.
There’s probably no “right” amount for the Tooth Fairy to pay out, just keep things reasonable. Don’t forget to leave something, risking the ire of your child expressed in an angry letter to the Tooth Fairy. And don’t be Pink, who gave her kid $100 for a single tooth. Sheesh.
The best thing parents can do for their kids is encourage them to handle whatever cash they get—from the Tooth Fairy, presents, allowance, and elsewhere—responsibly. Because schools are falling down on the job, it’s up to parents to make sure their kids are learning the right financial lessons.