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Posts Tagged ‘money’

What Does The Tooth Fairy Pay These Days, Anyway?

toothfairy.pngAs a kid, the idea of the tooth fairy can be magical, fun, even thrilling. As a parent, it can be anything but.

If you have ever freaked out after hearing how much money that fluttering creature brings your kid’s toothless friends, have woken up in the morning panicked because you realized you forgot to shimmy some money under your child’s pillow, or have just gotten downright frustrated with the tooth fairy, you’re not alone.

It’s no wonder people have a hard time determining the tooth fairy’s payout in their own homes ― the rates are all over the place.

The mythical dental sprite’s reward has recently decreased, according to multiple surveys.

The Original Tooth Fairy Poll (yes, that is a thing) from Delta Dental, which has been recording rates since 1998, saw an all-time high average in 2016. The fairy was forking over about $4.66 per tooth then, a 75-cent increase compared to 2015. For their latest results, Delta Dental surveyed 1,007 parents of children ages 6 to 12 in December 2017. Results showed the tooth fairy paid an average of $4.13 per tooth last year.

In 2015, Visa found that $1 was by far the most popular amount for the tooth fairy to leave behind, based on 4,027 telephone interviews conducted from May to June 2015 (32 percent of those surveyed reported this amount). The average per tooth was $3.19.

The fairy was a bit more willing to part with her money for some kids, though. Almost one-fifth of the Visa survey participants said the fairy offered $5 for a tooth, and about five percent said the flying being left $20 (!) or more.

If you’re thinking, “I never got that much from the tooth fairy when I was a kid,” a survey from LendEDU, a personal finance marketplace, might make you think twice. The company surveyed 400 baby boomers, 438 generation Xers and 400 millennials in an online poll in March and asked how much they received from the tooth fairy as a kid.

LendEDU’s results reflect that baby boomers (ages 54 and older) received an average of $0.69 per lost tooth. Generation Xers (ages 39 to 53) received $1.39, while millennials (ages 24 to 38) got $2.13. The company adjusted the rates for inflation using the U.S. Bureau of Labor Statistics’ inflation calculator and found that on average, the tooth fairy left behind about $5.77 per tooth for baby boomers, $5.54 for generation Xers and $3.72 for millennials. That fairy is quite generous.

Of course, these surveys only give you a sample of the tooth fairy trends in the United States. Factors like the state of the market and a family’s income can play significant roles. And if you want to get creative with what the tooth fairy leaves, there are always Etsy and Pinterest

There is one stat, though, that might make caretakers playing the role of fairy breathe a sigh of relief. 

According to the most recent Original Tooth Fairy Poll, more than half the parents surveyed (about 55 percent) said they the tooth fairy may have missed a visit a time or two.

At least you’ve got that going for you, dental liaisons.

 

This article was written by Taylor Pittman from Huffington Post and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to legal@newscred.com.

This Mom’s Clever Hack May be the Perfect Way to Teach Your Kids About Money

Money.jpg

It’s never too early to learn about financial responsibility.

Working moms already do a great job in leading by example and teaching their kids about the value of hard work, but one mom took things a bit further by actually giving her daughter imaginary bills and checks to teach her some key financial lessons.

Lynn Brooks, a working mom of two from Birmingham, AL, posted her parenting hack on Facebook where it has since been shared more than 150,000 times. In the post, she says wanted to teach her child important life skills. “Not only is my daughter learning responsibilities, she’s also learning her math in the process,” she wrote.

Every week her daughter Londyn is given a paycheck for all of her “work,” such as going to school, and even gets a bonus for good grades. The official paycheck is of course signed off by Mom.

However, Londyn also has some “bills” she is responsible for paying. She is billed every week for using water, power and Internet. Lynn puts all of the money her daughter pays into a savings account for her.

Londyn’s mom even creates a work and payment schedule every week to help her keep track of everything.

The money that Londyn earns is kept at the “bank” for safekeeping. Londyn has to fill out withdrawal and deposit slips, which also double as extra math lessons.

She can even shop at a little store her mom set up, where treats can be purchased using the saved wages.

In her original post, Lynn encourages other parents to do something similar with their own kids—especially since they may not be receiving these types of lessons in school. “Schools are not teaching this much-needed aspect of life,” she wrote. “[There are] so many kids—even young adults and teens—that only know how to use a debit card. So parents, guardians, friends and family, by all means find your structure and create saving magic.”

Lynn also added that her daughter is definitely learning some serious financial responsibility because of it. “My daughter is confident, learning and is improving,” Lynn wrote. “It’s borderline bribery, however, we ALL feel great when we get rewarded and being acknowledged for doing a great job. Make this project your own. It’s fun.”

 

This article was written by Joseph Barberio from Working Mother and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to legal@newscred.com.

KuKu Game

KuKu (Koo – Koo) is a game that teaches risk, money and numbers, but it’s easy enough to explain to your child.

What you need

  • One large poster paper
  • One large drafting compass
  • A pencil
  • A deck of cards
  • Coins (pennies, nickels, dimes or quarters) or poker chips for each player

Set up

To set up your board, take the poster paper and draw a large circle close to the edge with your protractor. Next, draw a smaller circle inside and continue that process until you have about five concentric circles decreasing in size toward the middle. Then, draw lines coming from the center to the edge, resembling pizza slices (see below).

kuku-game

Players

  • three to eight

Goal

  • To not end up with the lowest card

How to Play

  1. Choose a starting dealer. The deal will rotate clockwise with each round.
  2. Have each player put a coin on the red dot at the bottom of the poster.
  3. The dealer distributes one card per player face down.
  4. Starting to the left of the dealer, the player decides to keep the dealt card or to switch it with the person on the left. If switched, the second player can either keep it or switch it again with the player on the left. Remember, the object is to not end up with the lowest card of all players.
  5. This play continues until it circles back to the dealer. The dealer can either keep the card he has or switch it with a card in the deck.
  6. All players turn their card face up. The person with the lowest card moves up one space on the board.
  7. Start a new round with a new dealer.
  8. Once your coin is in the innermost circle, you are out.
  9. The last person left with a coin outside the inner circle wins all the coins.

** If you are dealt a king at any time, you can yell “KuKu” and refuse to give your card to the person asking to switch with you.

Have fun!