In my case, my paternal grandparents put a certain amount of money into a trust fund to be equally divided between their four grandkids. The main idea is to use it for college, but as I am attending a public university, it is quite likely I’ll have some money left over.

The caveat? The trust fund is not accessible to me until I turn 35. I’m 18.

I believe the fact that the money is basically untouchable (except upon request from my mom, who is a trustee and distributes the money for my brother and I) will allow me enough time to realize the value of a dollar. It’s been suggested to me that I could use it as part of a down payment on a house – except that at 35, I hope I’ll have been in a house for several years at that point.

I personally think that the age of 35 is a good one, as, when speaking to my cousin, who is all of 2 days younger than I am, he was quite excited to realize how much money was in the account and how he could spend it. If it was accessible to him at 21, I shudder to think of how much money he would waste.

That’s my two cents, anyway.