I have read in Tae Kim's book that "You can attach the inclusive particle 「も」 to get 「ながらも」. This changes the meaning from "while" to "Even while"."
I personally do not like this translation and that's because the given examples I will provide do not fit this translation.
On the JLPT Sensei website it translates 「ながらも」 as "despite" or "although". He goes on to state that "The 「も」 at the end is optional and is often just used as 「ながら」". However, no matter how small a difference is there is always a reason for it, at least in my opinion.
My examples are taking from both sources.
Despite it being small, I love this apartment.
Although Anna-chan is just a child, she knows quite a lot of various things.
Even while I'm poor, I ended up buying a high quality bag. (I would just rather prefer "despite" or "although" being used here.)
To summarize, I would like to know the subtle differences between using ながら and ながらも. I don't really agree with the Tae Kim explanation and it is non-existent on the JLPT Sensei website so I thought I would pop my StackExchange cherry and ask it here.
P.s. I know there is another ながら grammar structure that is similar to this but I know that they are different in meaning.