Some money questions are very important.
Just a few examples are: how to discern wants from needs, how much to save for retirement, and where to invest money. Now it’s time to move on to what you know is a much more “important” money question: how much money should the tooth fairy give a child for losing a tooth?
Believe it or not, I actually wrote a prior post that involved this subject, but it was more about a friend’s kid trying to get money for losing a tooth. Only, a tooth wasn’t actually lost! It was one of those eye opening revelations that got me thinking “Wow, kids can be quite clever!”.
In this case, I’m interested in hearing what you think about what’s “normal” – if there is such a thing – in terms of what a kid might get for losing a tooth. Keeping in mind that of course, not everybody goes along with the concept, and many even think the whole concept of the tooth fairy is simply dumb.
This topic came up because of somebody else I know talking about the “going rate” in his area (he lives in a different city than me) is $10. Yes, that’s right – over there, kids get $10 from their parents – err, I mean the Tooth Fairy – for losing a tooth. The child leaves the tooth under the pillow, and wakes up to a nice chunk of money waiting for him or her. Seems like a pretty good deal for kids, and expensive for the parents! It gets better though – some kids there might even get a stuffed animal for losing a tooth!
My child just lost a tooth recently, and I left $2 for it. Actually, she came to me asking why the tooth fairy didn’t leave anything though she left the tooth under the pillow. The tooth was still there, and the money never showed up. Oops! I maneuvered the situation to get back in the room and leave $2 under the bed, then later it was positioned such that the tooth fairy must have been in a hurry so left it there instead. We do what he have to do sometimes 🙂
Anyway, I was thinking that $2 was in line with what I got as a kid, from an inflation-adjusted basis. I think I got $0.25 or $0.50. To me, this seems to be a lot. Or, at least so I thought!
My Questions for You
Did you ever get anything from the “Tooth Fairy”?
Do you think it’s a ridiculous concept, or something that’s one of those fun little things about childhood/parenting?
What do you think is a reasonable amount for a kid to get for losing a tooth?