If my mother sends me some money every month, is that considered an income?
I usually fill in a sheet to track my expenses and display my savings for every month. For the past few months, I've been living on my mother's generosity to sustain myself while I'm studying. I was categorising this as an income but felt it wasn't right.
The question is, What do you call the money you receive from a relative every month for a fixed period of time in exchange for basically nothing but your well being, education etc.?
I intend to share this sheet with students who might be receiving some sort of financial assistance from their relatives. The need for me to come up with a term that rightly describes this transfer of cash is to avoid any sort of confusion while using this sheet.