Poll finds less than half of US kids under 18 get allowance

A new poll finds the median age that American kids start receiving allowance is 8 years old. The weekly payout was a median $4. And cash is still king for the form allowance is given.

According to a recent poll by CreditCards.com, only 40 percent of children under 18 in the United States receive an allowance.

Furthermore, the poll finds 1 in 4 participants said their parents did not educate them about money topics while they were growing up.

The study focuses on why giving children allowance is an important lesson concurrent with educating them about money matters.

For more information, click here for the full poll findings.

MORE: Poll: Fewer than half of American kids under 18 receive an allowance