Yahoo Finance Tooth Fairy economy: Aussie parents debate going rate amid rising inflation
A gold coin or a $5 note? One of the most common questions – as quirky as it may sound – is how much the Tooth Fairy should pay for a lost tooth.
And, given the current cost-of-living crisis, does the Tooth Fairy need to increase its fees as well?
One Aussie parent took to Reddit on Monday to ask what the current rate was for the Tooth Fairy in Australia after his son lost his second tooth over the weekend.
"Considering inflation, what's the going rate for the Tooth Fairy in Australia?" the Reddit user - who uses the handle takentryanotheruser - asked the subreddit r/AusFinance.
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"We never have cash in the house and being a Sunday evening, I wasn't going to the ATM. Only note I could find was a $20. My son is now $20 richer.
"What's the going rate for other homes in Australia? According to the 2018 study of Bluey episode 'Markets', it's $5," he added.
"Have I created a monster with my lazy behaviour? Can I pass this off as temporary inflation that will go back to normal once interest rates rise?"
The question had been upvoted more than 500 times and garnered more than 250 comments since it was posted, with a mixed bag of comments.
"Just slap your kid with a 'windfall tax' and take $15 back," one Reddit user suggested.
"Keep it the same as our wage increases. So, nothing," another replied.
"Correct answer is to make the kid open an account with the $20 and start investing so they can buy several properties and retire early. Kid is already behind from not doing this with the first tooth," a third Redditor wrote, adding "/s" to show sarcasm.
The rate debate
There was no real consensus on how much to pay for a tooth though, as comments about the going rate varied.
"We are doing $2 a tooth, a note ($5 or $10 whatever we have) for 4 front teeth," shared one parent.
"$5. You can't buy much besides the odd lolly with $2 and it seems counterproductive when you wanna keep the new teeth coming in healthy," another commented. "$5 can get them a little toy or they can save up for something big."
Many others remarked that $20 was too much.
"Small teeth - $2, molars - $5. But if there is [sic] any cavities in them or they have plaque on them, then they get nothing. Tooth Fairy can't make fairy furniture out of damaged materials," replied one Reddit user.
One person said they knew someone who received a "crisp $100" at her grandmother's house, while someone else commented that a grandparent gave his child $50 per tooth.
"In today's market, it has to be a note of some form. Inflation is through the roof and the cost of living is rising," chimed another Redditor.
Tooth Fairy Index
According to the annual Original Tooth Fairy Poll by Delta Dental, inflation has certainly benefited youngsters losing their teeth in the US this year.
Rates are at an all-time high in the 24-year history of the poll.
The survey revealed the Tooth Fairy delivered a record-setting average of US$5.36 (A$7.80) per tooth.
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