The Children's Mutual reports Tooth Fairy tightening purse strings
as recession bites
on: May 28, 2009, 4:05 am
Children's Mutual's annual Tooth Fairy Index has revealed that
the average cost of a child's tooth has fallen six per cent from
£1.22 to £1.15. The index shows that even the Tooth
Fairy is having to fight the economic gloom, giving away £1.3*
million less this year than last, as the credit crunch extends
its clutches to the magic realm of Fairyland.
2008, the Child
Trust Fund provider's Tooth Fairy Index found the average
cost of a tooth had risen by an impressive 16% on the previous
year. But 12 months on, the tooth market is showing signs of decay
as parents resist the 'fairy pressure' reported in previous years,
with 24% now happy to pay less than average, stating this helps
their children understand the value of money.
White, Chief Executive of The Children’s Mutual said: "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. Talking about the value of money
in terms children can easily understand can help them appreciate
the importance of saving."
55% of all children save some or all of the money the tooth fairy
leaves in exchange for their teeth. Children in the South West
have the most bulging piggy banks as over three quarters (77%)
are saving their tooth pennies, while those in Scotland are choosing
to splash their cash, with 51% spending all the money the tooth
fairy leaves under their pillow.
Children's Mutual's Tooth Fairy Index reveals that attitudes towards
the tooth fairy vary widely across the UK. Children in Northern
Ireland benefit the most from the tooth fairy's generosity, as
one in 8 children (12.5%) receive £5 or more for each tooth
that wobbles free, whereas 12% of children in the Midlands have
a gap in their purses as well as their mouths as they are forgotten
by the tooth fairy altogether.
report also indicates that the tooth fairy herself has changed
over the years. Traditionally, the tooth fairy has been known
for leaving money, letters, and a sprinkling of fairy dust on
her nightly rounds, though some parents recalled receiving an
orange, toys or a book as a special treat from the tooth fairy.
Their children in turn are now the recipients of mobile phone
credit and magazines as the tooth fairy flies into the twenty-first
The Childrens Mutual
The Children's Mutual's mission is to help parents, grandparents,
family and friends fulfil their hopes for today's children and
secure their financial futures. The company specialises exclusively
in family-focused finance products, and is currently the choice
of 1 in 4 parents for Child
Children's Mutual, as an expert in savings for children, made
a significant contribution to the Government's Child Trust Fund
consultation process and is widely recognised by the business
community and press as an industry expert on family finance. This
expertise has led several financial institutions and family-focused
high street retailers to choose The Children's Mutual as their
Trust Fund partner.
breakdown of the average amount of money left per tooth in each
region of the UK is available upon request.
- ENDS -
Notes to editors
All research conducted by 72 Point who interviewed 2070 parents
with children aged 5-15 in May 2009
* Average number of children aged 6-11(4.8m) losing 4 teeth per
year x the average tooth fairy rate of £1.15 - average number
of children = 4.8m x 4 teeth per year = 19.2m; 19.2m x 1.15 =
£22.8m. Last year’s value = £23.4m - this year’s
value of £22.08 = £1.32m
Children's Mutual has a large database of case studies available.
David White, The Children's Mutual Chief Executive, is available
For further media information please contact:
Senior Account Executive
22 Endell Street
020 7781 2376