- Malaysia Airlines pilots sometimes left cockpit door unlocked: U.S. businessman
- PHILLIPS: The benefits of defying ‘common wisdom’
- Judge strikes down Arkansas abortion law — nation’s toughest — as unconstitutional
- Court: Tenn. must recognize 3 same-sex marriages
- Russia claims to have downed U.S. drone over Crimea region; Pentagon denies
- John Daly shoots 90 at PGA Tour event: ‘I’m falling apart’
- Police: Man arrested in West Virginia may be linked to Alexandria killings
- Smile: Equipping cops with body-mounted cameras gains steam in Calif., N.Y.
- Obama to sign bill cutting taxpayer money for party conventions
- Half of Americans worried about second Cold War: poll
Recession really puts the bite on tooth fairy
Youngsters finding less reward under pillow for their offerings
Even the tooth fairy is feeling the bite of the recession.
Children across the country are getting short-changed for their teeth, according to a new study from Visa Inc. They’re waking up to find less money under their pillows.
Visa hopes the study will teach youngsters responsible money habits. Mr. Alderman said he has a 7-year-old daughter who is “fascinated” with the tooth fairy, and gives him “hourly updates on every twist and turn of the tooth.”
“We want parents to use this as a teachable moment,” he said. “We know the tooth fairy connects with kids.”
Mr. Aldermanbelieves this could be a signal that families are cutting back on all sorts of entertainment spending, including funding the tooth fairy.
“As parents are looking for ways to tighten their belts, this is one small cut they’re making, as well,” Mr. Alderman said. “It reflects a mind-set: We are cutting back overall.”
The study found that the average price per tooth dropped to $2.60 this year from $3 in 2010.
On the East Coast, last year’s highest-paid children are now the lowest paid ones. The price of a tooth dropped 38 percent to $2.10. In the South, children also took a big hit to their piggy banks as the price was cut 21 percent to $2.60.
The price for teeth in the Midwest and West Coast remained stable. Children in the Midwest noticed a decline of 3 percent, or 10 cents, to $2.80. While West Coast youngsters actually saw the price edge up to $2.80 from last year’s $2.70.
The number of parents who can’t afford to fund the tooth fairy is also growing. It’s at 10 percent this year, up from 6 percent last year. “There’s probably some people who just cut out the tooth fairy altogether,” Mr. Alderman said.
Another 7 percent of children get less than a dollar.
Meanwhile, there are fewer big spending tooth fairies out there. The number of children who receive $5 or more fell to 18 percent from 22 percent last year.
Ann Khan of Fairfax, Calif., is one of those big spenders. When she was a child more than 30 years ago, she only got a quarter for each tooth. Today, her three children — ages 3, 7 and 9 — wake up to find a $5 bill under their pillows.
Still, a $1 bill remains quite popular with 29 percent of children. Joel Narloch and his wife, Destiny, from Clarkston, Mich., started out with $1 for their 5-year-old daughter, Elanya, so they would have something to build up to. They might mix it up between toys and money in the future.
© Copyright 2014 The Washington Times, LLC. Click here for reprint permission.
About the Author
Tim Devaney is a national reporter who covers business and international trade for The Washington Times. Previously, he worked for the Detroit News, Grand Rapids Press, Portland Press Herald and Bangor Daily News. Tim can be reached at email@example.com.
- Dysfunction, disarray at Homeland Security management cited in IG's report
- GM's Barra to be first woman to run top American carmaker
- Treasury sells last shares in 'Government Motors'
- U.S. businesses reach out quickly to partners in Iran
- General Motors ending Chevrolet sales in Europe to focus on Opel and Vauxhall
Latest Blog Entries
TWT Video Picks
By David A. Clarke Jr.
Blame Washington's intelligence failure, not lack of police
- CURL: We completely overhauled American health care to insure 4.2 million people?
- California gun store owner refuses to hand over customer list
- Bill Maher: God a 'psychotic mass murderer' who 'drowns babies'
- Firefighters discover church's Bible in Harlem rubble following gas explosion
- Crimea votes in favor of secession, U.S. rejects
- College group's diversity event canceled after excluding white people
- EXCLUSIVE: FBI blocked in corruption probe involving Sens. Reid, Lee
- Trust me: Obama promises new overtime rules will be 'easier for everyone'
- McCaul offers scenario where missing Malaysian jet lands in hostile country to be use as missile
- U.S. pilot scares off Iranians with 'Top Gun'-worthy stunt: 'You really ought to go home'
Chaos as Manhattan building explodes
Pope Francis meets his 'mini-me'
Celebrity deaths in 2014