Jun 26 2007
Parents can use the story of the tooth fairy to educate their children about the value of money and help them get an early understanding of financial matters, the Children's Mutual has suggested.
The Children's Mutual specialises in child trust fund (CTF) accounts and the company insists that the idea of the tooth fairy can help bring financial issues to life in way that might capture the imagination of young children.
"Teaching the value of money is often difficult, but the tooth fairy is on hand to help," says David White, chief executive of the Children's Mutual.
"Paying children for their lost teeth could help bring playing shop and money games to life," he adds.
The suggestions from the Children's Mutual comes after the firm's own research found that the generosity of the tooth fairy appears to be on the increase and that in the UK children's teeth are replaced with a collective total of around £20 million each year.
CTF's are designed as a way to give young people a solid financial footing when they reach the age of 18 and many providers are offering "great deals" on these accounts in the current climate of rising interest rates, according to price comparison service MoneyExpert.
