I’m a Financial Advisor — Here’s What a $100 Tooth Fairy Fail Taught My Kid About Money
Written by
Laura Bogart
Edited by
Kristen Mae
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Financial advisors — they’re just like the rest of us. Well, not really. They do typically have more knowledge than the average person and the skills to develop robust financial strategies tailored to specific goals. But financial advisors aren’t immune from making very human, and sometimes very embarrassing, mistakes — or, as the kids say, “cringe” — with money.
Cristian Mundy, CFP, professional and senior wealth manager at Life Line Wealth Management, is no exception. His “cringe” moment came when his son discovered just how generous the Tooth Fairy could be — and Mundy learned just how curious and tenacious a child can be after receiving an unexpected windfall.
The $100 Tooth Fairy Mistake
When Mundy’s oldest son lost his first tooth a few years ago, he and his wife wanted to commemorate the milestone with a classic visit from the Tooth Fairy. What’s the harm in celebrating this rite of passage with a little pixie-dusted magic?
“So, I grabbed my wallet before bed and realized all I had was a $100 bill. I figured, ‘Eh, I’ll swap it out in the morning after the gym,'” Mundy recalls. Did he, in fact, wake up in time to swap it out before going to the gym?
He did not.
“Fast-forward to 4:45 a.m. I’m being shaken awake by an excited little voice screaming: ‘Dad! The Tooth Fairy left me one hundred dollars! She’s rich!'” Mundy says. “I never got out of bed faster in my life.”
Initially, Mundy tried to play it cool and reclaim the $100. “Wow, Big Dawg, she must’ve made a mistake!” he told his son. “Let’s leave a thank you note and return the money so she doesn’t get in trouble with the Tooth Fairy IRS.”
Needless to say, his son wasn’t buying it.
When a Money Mistake Becomes a Teachable Moment
Not only was Mundy’s son unconvinced, he gave his dad a knowing smile and a side-eye that said: The Tooth Fairy is taking this L. “L” as in loss. As in $100 loss.
But the moment didn’t stop there. If anything, it kicked off a cascade of, as Mundy puts it, “deep financial questions,” like, “Can the Tooth Fairy help us buy a Tesla?” “Why doesn’t she just give everyone money if she has so much?” “Could you pull my other loose tooth so I get more money?”
And finally, this kicker: “Is the Tooth Fairy hiring?”
Mundy says he came to a swift epiphany: “I had to explain budgeting, inflation and magical dental economics, way earlier than I planned.”
What a $100 Bill Taught This Financial Advisor About Passing Along Financial Knowledge
If Mundy took one lesson away from his $100 mistake — or rather, the Tooth Fairy’s $100 mistake — it’s that kids start forming money habits and perceptions earlier than you might think.
“As a CFP® and a Latino dad, I talk a lot about generational wealth, but that day reminded me it starts with generational wisdom,” he says. “Whether it’s a dollar under a pillow or a conversation over dinner, every moment is a chance to teach kids how money really works, and not to base their financial plan on mythical creatures with bad accounting habits.”
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