A majority of parents in America offer an allowance in an effort to teach their kids about money. However, many are falling ...

Allowance remains one of parents' most popular ways to teach children about money. Is it keeping up with inflation?

"I am saying they need to learn that money comes from work—not just from existing," he added. Instead of a flat-out allowance, Ramsey recommends paying kids a commission for age-appropriate chores.