My DH was never taught anything. Money management, laundry, cleaning, cooking, nothing. It did not serve him well in the real world.
Our plan for DS is to incorporate life lessons into everyday. He can help clean (as he already does) and learn to do laundry. I'll teach him to cook, bake, and sew. We'll start out with a small allowance and help teach him to manage it. DH will teach him car maintenance including oil change, tire rotation, changing brakes and calipers, basic repairs, etc. One or both of us will teach him basic home maintenance as it comes up.
When he gets to high school age and thinking about college, we'll sit down with him and help him with financial planning. Such as, if he does X, he'll need to take financial steps Y. If he wants to live in the dorm he'll need to plan for A, while if he wants to live in an apartment he'll need to plan for B. We plan to teach him good budgeting, the ins and outs of various types of debt, and how to live within your means.