Introduction:

Money is involved in many things and situations around the world; every person had experienced, even once, to see and to hold money, so it’s indeed a big part of everyone’s life. It can be in the form of metal coin or piece of paper, but people value this thing to sustain their everyday needs like food, water, and clothes. One can’t just go to the market to buy foods if he/she doesn’t have money right? It can also provide things for people’s satisfaction like gadgets, appliances and accessories. There’s an idiom in which it stated that “money doesn’t grow on trees”, meaning a person should be careful of how much money he spends because there is only a limited amount. However, there are ways on how earn it. What are jobs for? Earning money involves having a job, that’s why people are using their skills in order to find a decent job that will give them high salary and support his and his family’s financial needs. People of young age, especially teenagers, are going to school, learning many things and preparing of having a job or profession in the near future. In order for this to work out, parents are supporting their financial needs; they are giving allowance to them whenever they are going to school.

In this study, allowance is the main topic to be discussed; its definition, importance, purposes, problems associated with it and the ways on how to resolve it.

1.1 Background of the Study:

Allowance, or ‘baon’ as what Filipinos call it, is the money given by parents to their children and serves as their financial assistance in school. Since children are not prepared to have a decent job or profession, their parents are responsible in supporting their financial needs. As soon as the child is old or wise enough to understand the basic skills in Mathematics and how money is used in everyday life, their parents