Is the allowance by parents a legitimate source of income to enter the Schengen area?

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Yes, it is, as long the funds are legally obtained by the source (your parents) and as long as it meets the given financial threshold.

You are being supported by your family, not uncommon or unusual, and the monies are really gifts, rather than employment income.

What you might want to carry is evidence that the flow of funds is constant and steady, as well as that you have access to other financial resources, such as credit card or a line of credit at your bank.

Too, it might be wise to have at the ready clarifying information, such as your mother's bank statement and the standing order to disburse money into your account.

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