Kids are getting an average of $3.7 per lost tooth, a 23% increase from last year's $3, according to a new survey released Friday.
These figures are approximated at a 42% spike from the $2.60 per tooth that the Tooth Fairy gave in 2011.
According to the survey, the increase in price is partly due to the fact that parents don't want their child to be the one to receive the lowest amount for their lost tooth.
"A kid who got a quarter would wonder why their tooth was worth less than the kid who got $5," said Kit Yarrow, a consumer psychologist and professor at Golden Gate University.
To be able to avoid this, Brian and Brittany Klems asked their friends and colleagues what they were giving their kids.
The couple who have three daughters agreed to give their six-year old daughter, Ella $5 for the first tooth and $1 for every other tooth that falls out, the Sheboygan Press reported.
They found out that other families were accustomed to giving their kids $20 for every tooth that falls out.
"I told her that the Tooth Fairy has only so much money for every night, and that's how she decides to split up the money," said Brian Klems, a parenting blogger and author of "Oh Boy, You're Having a Girl: A Dad's Survival Guide to Raising Daughters.
"I think we're on the cheap side," he further stated.
