Well, let's think about it a moment. First of all, there are scholarships. Secondly, there are grants. Third, there are birthdays, Christmases, graduation presents, presents of all kinds rained down on kids as they're growing up. Fourth, I know it's shocking and painful, but there's part-time jobs from babysitting on through high school. Fifth, there's the newest cell phone release every year. Stop it. Sixth, another shock??!! There's community college. OMG!! Noooooo!!!
Spend half, save half. A great philosophy. I just bought Tom's nephew a piggy bank. He's 4+ years old. Can't start too young:
Four spigots at the bottom to take out money in each of the four compartments.
I know taking responsibility for one's self is a shock to many young people's systems, but that's the way it used to be. It oughta' be that way again.