Tooth Fairy spending skyrocketed in 2013 and shows no signs of slowing down. A survey by Visa shows that American children are receiving an average of $3.70 per lost tooth this year, which is a dramatic increase of 23% over the $3.00 per tooth left in 2012 and 42% over the $2.60 left in 2011. Based on this rate of return, a child would net a substantive $74 for a full set of 20 baby teeth.
by Gregg Murset, CFP
Love them or hate them, New Years Resolutions do make you think about the future. According to a 2012 survey by University of Scranton, an estimated 190 million Americans create a yearly list of things to do or improve upon. If by chance one of your items is to create a financial plan, live on a budget or get debt under control, then January is the perfect month for you to since it’s National Financial Wellness month in the U.S. MyJobChart.com CEO Gregg Murset recommends making resolutions that are achievable for you but can also serve as teachable moments for your children.
To help move your children in the right direction in 2014, Murset suggests:
No More Hand Outs
Decide you are not going to just shell out money to your kids anymore. When they come to looking for money, let them know that they will have to work for it. Tying work and reward together in meaningful ways will help them understand responsibility and accountability.
The American dream is alive and well among girls, according to a new report by the Girl Scout Research Institute, which reveals that girls feel optimistic about their financial futures, yet are less than fully knowledgeable about essential financial principles and instruments, from using credit cards to establishing good credit. And just 12 percent of the girls surveyed say they feel confident in making financial decisions.
