This weekend I was catching up with a friend and we were discussing what had been happening in the lives of our family over the last few weeks. We talked about school starting back again and how we can’t believe summer is over and fall is around the corner when he mentioned his daughter had lost a tooth. This wasn’t an ordinary tooth, as it had been one that she didn’t want anyone to touch and let her tongue and mother nature do all the work. My friend then mentioned that the tooth fairy was going to deliver a $10 itunes gift card. It didn’t hit me at first, but then I thought $10 and an ipod in the same sentence. We are also talking about an 8 year-old and the thought of paying $10 per tooth and the fact that she already owns an ipod. I didn’t want to ask if it was a nano or an iphone. And yes, I have seen children with nicer cell phones than mine.
When did the tooth fairy index rise from $1 to $10 per tooth? I actually recall receiving 25 cents for a tooth and $1 when I lost two teeth in one day. Does the tooth fairy visit your house? Do you participate and leave these pearly whites from your beautiful children and trade them for $10 itunes gift cards? Since when did the tooth fairy start working for Apple and Steve Jobs? I was shocked and then it made me think what are we teaching our children.
Does $10 seem rational for a tooth? Children typically have 20 baby teeth, which would make for a gift of $200 from the tooth fairy. Looks like losing baby teeth could be a source of residual passive income for children. After reading this, please don’t think I’m serious. But, it does make you think what we are teaching our children about a natural event and income. Do you get paid when your hair turns gray or when your belt size grows? Wouldn’t that be fun.
An ipod for a 7 year-old? When I was 7 I enjoyed riding my bike, reading, coloring, and playing games. Does a 7 year-old have the ability to appreciate an ipod? Would you regulate what songs your 7 year-old plays on the ipod? I guess I better start doing my research on Jonas Brother and Hannah Montana lyrics.
A savings account for your child. Whether the tooth fairy brings $1 or $10 for your child’s tooth, could you utilize this opportunity to teach them about saving money? I remember both of my parents and grandparents telling me to save money for a rainy day or special event. I had a passbook savings account and would enjoy reviewing my deposits after major holiday’s and after the tooth fairy would visit. Yes, we would go to the bank even for $1. If a child receives a $10 itunes gift card they will not have the ability to set any money aside and understand the savings opportunity. In fact, I currently have a balance on my itunes account. I wonder how many people have a balance and forget that they have unused money to spend on songs.
Would you compensate your children for losing teeth? What is a reasonable amount, and would you encourage them to think about saving a portion of it?
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