We give our kids some pocket money, sometimes just because they are in the family, and sometimes as a reward for doing chores. It's called an "allowance". What's up with that? It seems like an awfully formal, legalistic word for something going on within the family. Is it a new concept that hasn't gotten its own colloquial term?
I can't think of any other term so formal that we use in a day-to-day, among the family situation.
