August 30, 2013
Foster City, CA – Aug 30, 2013 – Tooth Fairy spending is skyrocketing and shows no signs of slowing down. Visa's annual survey shows that American children are receiving an average of $3.70 per lost tooth this year, a dramatic increase of 23% more than the $3.00 per tooth left in 2012 and up 42% from the $2.60 left in 2011. Based on this rate of return, a child would net a substantive $74 for a full set of 20 baby teeth.
To help parents navigate the sensitive topic of the appropriate amount their children should receive for lost teeth, Visa has created a free Tooth Fairy app and Facebook calculator.
Additional findings from the survey include:
"The Tooth Fairy is throwing money around like pixie dust," said Nat Sillin, Visa's head of U.S. Financial Education. "While more money is exciting news for children, parents should take this opportunity to talk saving and smart money habits with their kids and have the same talk with a perhaps overgenerous Tooth Fairy."
The free app and calculator uses Visa's 2013 survey data and factors in demographics such as gender, age, home state, family size, marital status, income and education levels to formulate how much money the Tooth Fairy is leaving in comparable households. It is not an endorsement or recommendation for a particular amount. The app is available for iPhones and iPads at the iTunes Store, and the calculator is available at: https://www.facebook.com/ToothFairyCalculator.
The calculator is part of Visa's free, award-winning financial education program, Practical Money Skills for Life, which reaches millions of people around the world each year. Launched in 1995, the program is now available in 10 languages in more than 30 countries. At Practical Money Skills for Life, educators, parents and students can access free educational resources including personal finance articles, games, lesson plans, and more.
*The survey results are based on 3,000 telephone interviews conducted nationally from July 12 – July 28, 2013 in cooperation with GfK Roper's Omnibus Service "OmniTel". The margin of error is +/-3 percentage points.
About Visa Inc.
Visa is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks-VisaNet-that is capable of handling more than 24,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit https://usa.visa.com/about-visa/our_business.html/.
*The survey results are based on 3,000 telephone interviews conducted nationally from July 12 – July 28, 2013 in cooperation with GfK Roper's Omnibus Service "OmniTel". The margin of error is +/-3 percentage points.
About Visa Inc.
Visa is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks-VisaNet-that is capable of handling more than 24,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit https://usa.visa.com/about-visa/our_business.html/.
