How did you/do you teach your dc about managing money?

[Alanamackree]

I’ve been thinking a lot about this recently. How do you deal with pocket money/gifts or earnings? Is pocket money linked to chores, for instance, or more of a “right”? Are there essentials that they are responsible for buying or is their money just for pleasure? Do they give money up to the house? Or are they compelled to save a %?
If you have adult dc, are they good with money now? Or would you do it differently if you could?

It's a bit of trial and error for me because I had to teach myself money management as a young adult (several years after I started earning my own money). As a teen, my mum insisted on looking after all the money I earned from weekend/holiday jobs so I never learnt to budget/keep track of it for myself. Got a credit card at 18 and spent to the limit rapidly. £2.5k bank loan at 20 to pay it off and have never had debt since.
I've been very conscious of teaching Ds to manage money better than I did.
He's been very fortunate to receive quite a bit of money for birthdays and Christmas and I used to put half away in a savings account and the rest he could spend as he wished (whether I thought his choice of toy was rubbish or not!!).
He's 16 now and works a few hours a week. I've discussed saving with him and he's agreed to put 25% away in his savings account, 50% in his current account and keep the rest in cash for trips to the local shop/cafe . He doesn't earn a lot but I thought the 25% savings seemed like a good starting point for him to get into the habit of regularly putting something away. We never really did pocket money. He's always helped with chores and whilst he doesn't really ask for stuff, I would usually get him things he's asked for or give him £10 if he was going to the cinema or something. He mostly pays for these things out of his wages now.
We did have a bit of an issue recently where he'd found a coat he liked in a shop and text me to ask if I'd pay half because it was really expensive and he couldn't bear to part with so much of his own money . I negotiated a lower % because I feel it's still my reaponsibilty to buy him a coat but no way could I justify the price of this particular one. He has worn it pretty much every day since so I suppose that's better than any coat he's had previously .

Also, I didn't save a single penny of my quite significant disposable income until I found out I was pregnant and facing single parenthood with no job to return to. I saved a ridiculous amount of money in the months before I stopped working and turns out I'm quite good at living frugally and saving a good proportion of what I earn. This made me feel a bit cross with myself for wasting so much up until that point but better late than never I suppose.

Oh and one more point, sorry
Re the coat, I'm hoping it'll come my way once he's had his next growth spurt

Thanks for the replies.
I was woeful with money in my 20s. As children we had pocket money but no responsibilities or things we had to budget for. My money was for my personal pleasure and it was a very difficult adjustment to managing on a budget.

My dc have very different styles of money management. Ds1 acts like it burns a hole in his pocket while ds2 can’t bear to part with his.