The Tooth Fairy’s budget has fallen 6% in the last year, according to new research into the habits of magical and mythical creatures.
The Tooth Fairy Index (TFI), published this week by the Children’s Mutual, shows the average amount left under the pillow in exchange for wobbly teeth has dropped to £1.15, compared to £1.22 a year ago.
This equates to a total of £1.3 million that’s been bitten off the Tooth Fairy’s budget by the credit crunch.
David White, Children’s Mutual chief executive, said the Tooth Fairy going frugal is not necessarily a bad thing, as it enables parents to explain how events in the real world affect magical and spiritual beings.
“The fall in the value of teeth provides the perfect opportunity for parents to talk to their child about the value of money and the impact of the credit crunch,” White said.
White believes that parents should use the Tooth Fairy’s new found budgetary constraints to educate their children about money.
“Talking about the value of money in terms children can easily understand can help them appreciate the importance of saving,” White said.
The Tooth Fairy’s budget has fallen by more than the retail price index (RPI), which has dropped by 1.2% in the last 12 months.
However, between 2007 and 2008, the Tooth Fairy increased her budget by 16%.