Allowance (noun)

1. An amount of money given or allotted usually at regular intervals for a specific purpose.
2. A sum of money that is given or allotted to someone, typically by a parent, to enable them to buy things they need.
3. An amount or quantity of something that is permitted or authorized.
4. A consideration or concession made in an agreement or arrangement.

Origin:

Late middle english: from old french alouance, based on latin allaudare "praise, approve".

Examples:

1. He received a weekly allowance from his parents.
2. She received a allowance for her school expenses.
3. The company made an allowance for the cost of raw materials.
4. The employee was given an allowance for relocation expenses.
5. The allowance for overtime pay is included in the contract.