When I was growing up I got an allowance if I did my chores throughout the week. I started saving pretty early. In junoir high I would ride my bike downtown every Saturday morning. My mom got a part-time job downtown, and I had to get my allowance from her. I had to meet up with her before noon so I could get to the bank to deposit it in my savings account. I do not remember what I would do if I was not able to get to the bank before it closed on Saturday. I do not remember if I would spend it, or make a bigger deposit the next time.
The bank closed at noon on Saturdays. There was only one branch in town. I think back then banks in Illinois were limited to one branch. Banks still had savings accounts for kids where you could start with $10. I think my parents gave me the first $10. Do banks still have savings accounts for kids? I think not.
When I was in college, my parents paid for tuition, room and board. I worked over the summers and breaks for extra spending money. In addition to being Mr Physical Fitness, I was also Mr Fiscal Fitness.