I do much the same: slightly less but with no rule about saving. Both have learned to handle money reasonably well.

Its fits in with my general approach to parenting and education too - generally encouraging autonomy and making their own choices, "home educated" up to 16 (GCSEs - UK high school exams), managing their time (just as valuable as money).

"I think the unfortunate thing is that the people who really need to learn money, are the ones that don’t have it"

and their parents have the same problem so cannot teach it either.

That said being rich can make you stupid about money too, as it can lead people to think they have an endless flow, especially if they have indulgent parents.