With economic conditions in Canada seemingly worse than those of our neighbours to the south, new data suggests the tooth fairy is taking this into consideration before she reaches under the pillow.
Visa recently released data in both Canada and the U.S. that shows the tooth fairy is being far more generous with Canadian children than those south of the border.
"The Tooth Fairy is paying a premium for Canadian baby teeth, which gives parents a great chance to start a conversation about money with their kids," said Carla Hindman, director of financial education, Visa Canada.
Canadian kids under the age of 13, according to Visa, will receive an average of $3.44 per tooth this year compared to $3.19 for their U.S. peers. While Canadian children will receive 23% more per tooth in 2015 over last year’s average, their American counterparts are projected to receive 6% less.
But before our kids jump for joy they might want to consult their parents’ financial advisor for a second opinion. When you include currency in the equation, American children actually receive more.
At current conversion rates the $3.19 received by kids in the U.S. translates to $4.17 Canadian per tooth. On a full set of 20, an American child would get $83.40 in Canadian dollars compared to $68.80 for those here in Canada. As a result a full set is actually worth 18% less for children north of the 49th parallel.
Who are the luckiest kids in Canada when it comes to the tooth fairy?
Hands down that would be Quebec where kids get $4.08 on average per tooth while the biggest losers when it comes to payments from the tooth fairy are kids in Atlantic Canada who receive just $2.79 per tooth, almost 20% less than the national average.
So, if you’re under 13, it pays to live in Quebec.