You won't believe how much kids are getting from the tooth fairy these days

Remember as a child saving up your tooth fairy earnings in exchange for a bag of your favourite penny candies or a plush toy? A dollar if you were really lucky? It turns out kids are cutting a bigger deal with the tooth fairy in exchange for their baby teeth these days.

Kids have much bigger expectations for their dental earnings and, in a recent study, some parents are admitting to paying upwards of €30 (about $40 CAD) a tooth. Gone are the days of finding a toonie or loonie under your pillow, kids these days are making a mint to save for larger items like iPads and video games.

The Irish study, which was conducted by Jack N’ Jill Kids, interviewed 1,000 parents and concluded that there has been a 289 per cent increase compared to what the parents themselves got from the tooth fairy.

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However, universally, parents agreed that $40 is a hefty price for a tooth and the study discovered that a tooth in Ireland was costing parents about €5 (roughly $7 CAD).

Unfortunately for kids in North America, it turns out the going rate for baby teeth is far lower than their European counterparts. Last year, Visa Canada conducted a study that discovered the average amount for one set of baby teeth rings in at roughly $69. The price-per-tooth varied according to province. In Ontario, the going rate per tooth is about $3 while kids in Quebec cash in just over $4 per tooth.

Turns out the Canadian tooth fairy isn’t quite as generous as her European sister. While some kids in North America wake up to a $20 bill under their pillow, it’s far less likely than the toothy-grinned kids losing their baby teeth in Europe. What these studies truly uncover is that the tooth fairy is just a product of keeping up with the times – no longer funding penny candy and upgrading her cost-per-living to help pay for iPod shuffles and game consoles.

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