Ask Paul: How much money should the tooth fairy leave?

Hi Paul,

I'm a huge fan - my parents used to watch you on the Money show and now I'm a mum myself and I don't have the same resources at my disposal in terms of the show, so I thought I would come to you directly (thanks Money magazine).

I have a very low stakes financial question for you.

My son has started losing his baby teeth and my husband and I disagree about how much the tooth fairy should bring.

I think a gold coin like when we were kids, but my husband thinks I'm being cheap and wants to put out $20 per tooth. Help! - Stef

Ha ha, I do appreciate your comments and kind words, Stef.

I reckon you were probably a schoolkid when your parents were watching Money. That went to air in the early 1990s and ran for a decade, very much showing my age and dinosaur status.

Your question also made me laugh, what a ripper!

Vicki, my wife, who is sitting next to me on the plane on our family trip to Fiji, is also chuckling.

Our six-year-old granddaughter lost her first tooth last week and we are a bit concerned that our tooth fairy has not kept pace with inflation. She got a $2 coin and was very excited.

Maybe this is the time for compromise.

I have had a chat with the tooth fairy on your behalf and she is cool with this.

How about a gold coin as a solid token of an important event, which frankly is a more interesting, shiny thing for a little one?

Then, as I am sure you, or your parents as long-term Money viewers, have an investment plan of some kind for your son, and you add $20 to that?

Best wishes to you and your young family, say hi to your mum and dad from me.

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