Allowance
An allowance is a term used to describe an allocation of money from one person to another.
The word allowance can be part of terms such as e. g. RDA which stands for recommended daily (or dietary) allowance.
Examples
- In Industrial Engineering, an allowance refers to a factor added to an engineered time standard to result in a labor time estimate that reflects such things as delays, operator fatigue, break time and travel time.
- An allowance is an amount of money provided to employees to offset specific expenses such as for travel interstate or to buy protective clothing
- Parents may give their children a relatively small amount of money on a recurring basis, such as $5 every weekend. Some parents will encourage the money be deposited into a bank account to earn interest for post-secondary education, others will say the child can spend it any way they see fit. Allowances are often ceased at some landmark event in the child's life, such as their first job, or when they become a teenager. (In some places, this is referred to as "Pocket Money")
- Some parents may take money off an allowance based on behavior, such as 10 cents for anything their child does that a parent sees as an act of negative behavior.
- Some parents use chores and allowances to teach kids about responsibility, making choices, earning money, saving for a goal and generally about the value of things.
Categories
Limited geographic scope