Visa app calculates gifts from the tooth fairy

The tooth fairy is leaving an average of $3 per tooth this year, an increase of 15% from $2.60 left in 2011, according to a survey released by Visa.

The survey results are based on 2,000 telephone interviews conducted in the U.S. from July 13 to July 17, 2012, in cooperation with GfK Roper's Omnibus Service "OmniTel." The margin of error is ± 4 percentage points.

To help parents answer the perennial question of how much their children should receive from the tooth fairy, Visa has created a new mobile app and online calculator that recommends an appropriate amount to leave for each tooth, the company announced.

The free app and calculator uses Visa's survey data and factors in demographics, such as gender, age, home state, income, and education levels, to formulate how much money the tooth fairy is leaving in comparable households. The app is available for iPhones and iPads at the Apple App Store or at www.PracticalMoneySkills.com/ToothFairy.

Other results from the survey:

• 3% of children receive less than a dollar, down from 7% last year.
• 30% of children receive exactly $1; last year's survey showed that 29% of children received exactly $1.
• 13% of children receive between $2 to $4, down from 18% last year.
• 18% of children receive $5, the same amount as compared to last year.
• 8% of children receive more than $5, compared with 3% last year.