A SAVINGS PLAN STARTS WITH A LOST TOOTH
The real tooth fairy doesn’t necessarily have to be a girl in a pink fluffy dress with fairy wings and a wand. There are little boys out there just as fascinated with spreading cheer and wanting a job as the tooth fairy when they grow up, like our nephew.
Talking about saving money is tough for some parents with their kids but a great place to start is when your child starts losing their teeth. Instead of spending money they get from the tooth fairy take the opportunity to explain to them about financial growth and how it may work in their favour.
Not only did our nephew remind us that we have to add tooth fairy savings to our budget as our little guy gets older but that we have to prepare ourselves as parents for these times ahead.
What exactly is the tooth fairy all about?
The tooth fairy is a fantasy figure of early childhood.The folklore states that when children lose one of their baby teeth, they should place it underneath their pillow and the tooth fairy will visit while they sleep, replacing the lost tooth with a small payment. The tradition of leaving a tooth under a pillow for the tooth fairy to collect is practiced in various countries in the Anglosphere.
Tooth Fairy- Job For Hire
While I was getting ready to visit the dentist last week our nephew was staying over as we were babysitting him. He asked me where I was going while I was finishing up drinking my morning coffee so I explained that I was going to the dentist.
Nephew: Uncle Mr.CBB why do you have your shoes on? Are you going somewhere?
Mr.CBB: Yes nephew, I’m going to the dentist this morning for an appointment.
Nephew: Why did you lose a tooth Uncle Mr.CBB?
Mr.CBB: I haven’t lost a tooth for many years.
Nephew: I lost a tooth last month and put it under my pillow for the tooth fairy. When I woke up in the morning there was $5 in place of my tooth.
Mr.CBB: Wow, that’s amazing nephew. I’m just going to the dentist for a check-up and cleaning. (It was actually a crown but I didn’t want to get into it with him) What did you do with your $5?
Nephew: I put the money in my piggy bank so I can save it to buy a bike.
Mr.CBB: I bet you were happy to see that money when you woke up.
Nephew: Yes, I was so happy because I also save my allowance and any other money I get for doing chores too. One day, I want to become the tooth fairy when I grow up.
What does the tooth fairy do for a job Uncle Mr.CBB?
Coming up with the tooth fairy story for kids who are interested in knowing what he/she does for a job description comes up for just about every parent.
There has to be an explanation for everything when you are a child.
Kids want to know what’s going on with the tooth fairy and why there’s money underneath their pillow when they wake up in the morning.
When I was a little boy I would convince myself that I would stay awake all night just to meet this mysterious tooth fairy. I wanted to see who this magical person was that could turn a regular pillow into a tooth fairy pillow. That’s what my mum used to call it. Ya, she loved it.
Mr.CBB: Oh ya? Why do you want to become the tooth fairy nephew?
Nephew: Because the tooth fairy makes kids smile and I want to make everyone smile and give them money.
Mr.CBB– You know that you don’t need money to smile right?
Nephew: I know Uncle Mr.CBB but I just like to see people happy like I am saving money in my piggy bank. My mom told me that if I save my money then one day I’ll be rich.
Mr.CBB: Well nephew, you keep on saving your money and who knows maybe one day you will be a very rich tooth fairy.
He smiles and walks away. I thought to myself smiling, You watch this kid will grow up to be wealthy and become a dentist or work in the dental field. He’s not even the tooth fairy yet and he left me smiling. It’s working already!
Believe in the Tooth Fairy
Whether you believe in the tooth fairy or not your child will find out about it and ask questions. As a parent it is your choice how you choose to greet the situation which can be tender especially when your child knows more about the tooth fairy than you think.
The tooth fairy is one of the first imaginary characters that children will be introduced to because teeth fall out and kids talk. There are also plenty of children’s books and television programs that suggest that when a tooth falls out money will be replaced by the tooth fairy.
Belief in the tooth fairy is viewed in two very different ways. On the one hand, children believing is seen as part of the trusting nature of childhood. Conversely, belief in the tooth fairy is frequently used to label adults as being too trusting and ready to believe anything.
While parents are often unsure of themselves when promoting the fiction of the tooth fairy, the majority of children report positive outcomes. Upon learning the tooth fairy is not real, 75% of children reported liking the custom; 20% were neutral and 3% were not in favor and said they did not intend to continue the practice when they became parents.
Parents tend to view the myth as providing comfort for children in the loss of their tooth. Research finds that belief in the tooth fairy may provide such comfort to a child experiencing fear or pain resulting from the loss of a tooth.
Your child may even question you about what they might find and if you say money the will ask, how much? This is just the inquisitive child wanting answers to unknown questions. It could be something as small as a $0.05-$20 although that seems a bit on the higher end. I guess it all depends on the tooth fairy budget.
Some kids wake up sad because the tooth fairy did not come and the first thing they may think is that she is a fraud. It’s important to address these common situations with your child whether you believe in them or not.
Not finding something under your pillow when you expect it to be there would upset any child even if they say that they understand. Even a small gesture such as a printed tooth fairy certificate to certify that your child lost a tooth on such date would work.
Not all parents have the money to leave for their children so they opt for other gifts like hand-written tooth fairy notes or treats. Just knowing that someone came to visit is enough to make a child smile.
Ultimately kids talk and they want the cash or want to know why their tooth fairy is leaving them a banana and not a loonie or toonie. Money talk is a VERY important topic for children and parents. Starting to save from a young age is imperative to building a strong understanding about finance as they grow older.
Everyone wants to be like the tooth fairy
We all like to see people happy including ourselves so we look for ways to bring happiness into our lives. For many people happiness revolves around money and success and others living the simple life both balanced with a happy family.
How many times have you wanted to know how other people become rich? How often do you think about ways to become just like someone you know and envy? This may be career-wise or someone who has all of their financial ducks in a row.
Often we just want to be happy and live a stress-free life without financial worry. What we tend to forget is that if we want that happiness we must find it ourselves.
Feeling rich for the first time
Do you remember the first time you felt rich because you had money in your hands? Even though you had no idea what rich meant you knew that you had money and that it could buy you stuff. That on its own can bring a rich feeling upon anyone who had nothing to begin with.
This may be why some people who win the lottery go from being rich to broke with-in years of winning. Without proper financial guidance it’s easy to let money get out of control to buy all the things you could only dream of having. There’s a fine line of understanding how to approach money from a young age especially from a parents point of view.
The night the tooth fairy comes is comparable to gift-giving imaginary figures such as Santa Clause and the Easter Bunny for kids.
Children will go to bed without question and sleep through the night just to be a good boy or girl for the tooth fairy. The anticipation by a child to get their hands on that money is astounding. When they wake in the morning and find money in exchange for their tooth they are SO excited.
They probably feel rich like I used to feel because when I was a little kid I wasn’t making money. I either found money or it was given to me so any money that came into my hands was big news.
I knew that I could save my money in my piggy bank and buy something bigger once I saved it up. It all made sense once I started first job as a paper boy where my frugal lifestyle began. I’m so happy for the tooth fairy talk and those little coins that I would get because it was at that moment where I made my entrance into the financial world.
Some of you reading this may believe that the tooth fairy is a joke and that parents shouldn’t make children believe in such foolish stories. I don’t believe so as I feel it encourages imagination and creativity. This may be the beginning of a savings relationship and greater understanding of how important money, giving-back and responsibility is as they grow older.
Money does not buy happiness but I’m sure many of you reading this today wouldn’t turn down cash if it was given to you for free and I bet you’d be smiling too. What you do with that money after you get it depends on your financial mindset. When you’re a kid if money is explained to you then you will understand you have options.
The tooth fairy may be just another parenting gimmick but for the kids it’s a lifetime of smiles, financial education and growing up. It won’t guarantee you freedom you from debt down the road but it may just plant the money-mindset seed that engages as the child grows older.
How was/is the tooth fairy handled in your house?
What lessons did this teach you as a child?
Trouble I got into this week
I was on holidays the past 2 weeks so we did a bit of travelling but only short road trips. We made our way to African Lion Safari, Wonderland and sight-seeing around town. We also celebrated our sons second birthday with a BBQ gathering at our house with homemade cupcakes, balloons, pool and lots of bubbles. It was a hit!!
All my fun is over for now and I’m back to work but only part-time at my second job so I can focus on my family and getting renovations done around the house.
Awesome posts I published this week
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Top Post This Week: How to make money fast without going crazy
- Add 1 Cup of Budget Inspection and Watch Your Bread Rise- Our August 2016 Budget Update
- 5 Cheap Lunch Ideas To Get You Through The Week
- Crispy Italian Eggplant Parmigiana (Low-Carb)
Reader Budget Brags
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We were happy with our purchases.
- Puma shoes
- 2 brand name sweaters
- 2 brand name track pants
- Sheer shirt
- dress $10 (this was at a church sale, the $10 was for an armful so my parents bought some items as well included in that $10.
- The sweaters, dress and track pants were for a friend’s daughter and she gave me $5 back for them)
- Closet organizer (to put Monday – Friday’s clothes in for Adam) $4
- Bag of fridge magnet clips and mesh bag (supposed to be for basketballs but I will use for sand toys) $1
- Marvel comic wall cling book, sticker book and construction paper $1
Brand new bag of Scott’s grass seed and brand new Noma Christmas lights $5 (asking was $7)
- Case of Lego $5
- 2 blue fabric bins, sos pads, drain cleaner, envelopes $1.50
Total spent $22.50
I picked up some fantastic deals this week. I’ve been looking for a few of these items for a while and cheap Lego is always a huge bonus.
Thanks, Jen P.
Making a difference (MAD)
Welcome to the 2016 Making A Difference series! Join the networking movement of Personal Finance Bloggers around the world. If you are a personal finance blogger (anywhere around the world) and would like your blog to be MAD featured simply drop me an email and I’ll explain the process to you. I’m currently booking for December.
This is my way of giving back to the personal finance community through networking and sharing knowledge with my fans. Today it is my pleasure to share with you the personal finance blog-Solving Finance.
First, special thanks to Mr. CBB for having me and congrats on reading his blog where you learn how to better your financial lives.
Just by spending time reading, you are significantly differentiating yourself financially from your peers and that is great!
I’m a 21-year old immigrant who has achieved a $40,000 net worth while being a full-time student. I am not a trust fund baby but someone who was and is willing to work hard to make his dreams come true. You can check out my blog post detailing how I did that on my website, solvingfinance.com.
I’m a finance solver. I provide my own unique perspective on personal finance and am working every day to solve life’s greatest mysteries, finance. I am a firm believer that if you put in the work and are willing to take a few smart risks along the way, you can achieve success, period, without fail.
I’m a very optimistic person at heart and look to the future being better than today by making choices that are bettering my life.
“Spend today to be a better person than you were tomorrow” is a quote that resonates with me. I may not be able to do it every single day but I can assure you, I take that quote to heart and more often than not in a given year (more than 51% of the year).
I make things happen with the opportunity given to me called life and will never let my laziness be the reason I wasn’t successful. Everyone wants to win but not everyone is willing to put in the amount of preparation that’s needed to actually win. I’m ready to work towards my future, are you?
Check us out at solvingfinance.com to learn from my unique perspective on reaching financial independence. I plan to be a millionaire in the next 15 years, at the very latest. If I can do it, so can you!
Frugal Recipe Pick
Food and grocery shopping are relevant to us because food is a large part of the budget which people struggle the most with.
We all have to eat to survive but just because we have a budget doesn’t mean we can’t eat delicious home-cooked meals that are drool-worthy.
If you are someone who would rather buy convenience foods consider cooking homemade meals or baking from scratch.
Not only will you save money but you will be proud of what you’ve accomplished and you’ll see that from the smiles on those you feed.
For the past 2 years I’ve had a second Facebook page called The Free Recipe Depot where I exclusively share recipes from Food Bloggers around the world. I also share recipes on the blog on Sunday either made by home cook and mom Nicola Don or myself.
I am a huge fan of apple pie and I won’t turn down a cinnamon roll from anyone. This week I wandered over to The Hopeless Housewife blog and found a recipe for these AMAZING Apple Pie Cinnamon Rolls.
Cool Pinterest Find
Having a toddler who is now two years-old we’ve been facing the terrible two’s for months now. What we have learned is how to react to our son which can be challenging at times for any parent when all you want to do is scream, “No”.
Nicole Schwarz a Parent Coach wrote an informative blog post to raise awareness so parents understand how to respond rather than react to situations with their kids.
Editor’s Choice (That’s me Mr.CBB) This week over at Freedom 35 the argument of whether becoming debt free is a terrible goal or smart idea and why people bother celebrating this success when there are better things to do with the money. I understand the point being made however I don’t regret becoming debt free one bit.
Ever since we paid our mortgage off and any other debts we owed life has been fantastic from a financial standpoint. We can travel when we want, buy just about anything we want with-in reason and have more investing and savings power for present and retirement. I’d do it all over again if I had to! Pay your debt off and do what makes you happy.
Spotlight on Finance
A great message full of truth. Read it and read it often because this is your financial wheel, time to drive it home.
It’s not your salary that makes you rich, it’s your spending habits- Charles A. Jaffe
Google Search Giggles
Always begin and end your day with a SMILE!- Mr.CBB
Every week I get thousands of people visit Canadian Budget Binder because they did a search online and found my blog. If you notice any spelling errors below this is because I share the exact way it was typed into a search engine query to land on my blog.
- Easy Non-Stressful Ways To Make Money Without A Job– If you find one let me know.
- Trip Ideas– Come to Canada 🙂
- $75,000 Line of Credit Maxed and Still Going On Holiday– Ya, sounds smart to me.
- Village Ball Binder Sexy– Now that’s one unusual search term
- Subway September 2016 Sandwich Of The Day– I love this one!
Most times funny, Sometimes serious.
That’s all the fun for this week, thanks for dropping by and we’ll see ya all again next Saturday!
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- The Saturday Weekend Review #188: 5 Motivational Inspirations to Consider While You Bulldoze Debt
Girl Sleeping Image courtesy of yingyo at FreeDigitalPhotos.netFairy + Image courtesy of digitalart at FreeDigitalPhotos.net