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Aa 111

An allowance is a sum of money given regularly for a specific purpose, often provided by parents to children for personal spending. In various contexts, such as construction, allowances may be allocated for specific items within a contract. The provider typically sets conditions on how the money is spent to achieve certain objectives, such as teaching money management or ensuring funds are used for designated expenses.

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20 views2 pages

Aa 111

An allowance is a sum of money given regularly for a specific purpose, often provided by parents to children for personal spending. In various contexts, such as construction, allowances may be allocated for specific items within a contract. The provider typically sets conditions on how the money is spent to achieve certain objectives, such as teaching money management or ensuring funds are used for designated expenses.

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Med HubPH
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Allowance (money)

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From Wikipedia, the free encyclopedia
For other uses, see Allowance (disambiguation).

British Boy Scouts receiving their allowances at


a fruit picking camp near Cambridge, England in 1943
An allowance is an amount of money given or allotted usually at regular intervals for a
specific purpose. In the context of children, parents may provide an allowance (British
English: pocket money) to their child for their miscellaneous personal spending. In the
construction industry, an allowance may be an amount allocated to a specific item of
work as part of an overall contract.

The person providing the allowance usually tries to control how or when money is spent
by the recipient so that it meets the aims of the person providing the money. For
example, a parent giving an allowance may be motivated to teach their child money
management, and the allowance may be either unconditional or tied to the completion
of chores or the achievement of specific grades.[1]

The person supplying the allowance usually specifies the purpose, and may put controls
in place to make sure that the money is spent only for that purpose. For example,
company employees may be given an allowance or per diem to provide for meals, and
travel when they work away from home, and then be required to provide receipts as
proof, or they may be provided with specific non-money tokens or vouchers such as
a meal voucher that can be used only for a specific purpose.[citation needed]

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