US News

Tooth Fairy payouts down to just $3.40 a tooth

Bad news for kids!

The Tooth Fairy is cutting back and shelling out less cash for kids’ pearly whites.

American children are raking in an average of $3.40 per tooth this year — 8 percent less than last year, according to a Tooth Fairy survey conducted by Visa and released Thursday, a day before National Tooth Fairy Day.

“The Tooth Fairy has had her wings clipped,” said Jason Alderman, personal finance expert and Visa vice president of global financial education.

“Less money might be a small disappointment for kids, but it’s an ideal opportunity for parents to talk to their children about the importance of saving and budgeting.”

Despite the recent slashing of prices, the numbers are still up 31 percent from the cheap $2.60 that the Tooth Fairy was stashing under pillows in 2011.

Kids in the western portion of the country received the most generous paydays with an average of $3.60.

Those in the South and Northeast typically got an average of $3.50, while their less fortunate peers in the Midwest were left with only $3.10.

Only 3.6 percent of children in the US reported getting $20 or more, which was down 6 percent from last year.