We had it at school though I don't know whether it was in the official syllabus. It was in the last year of elementary school in social studies. The teacher had Monopoly money and a lot of envelopes. The envelopes had words written on it: rent, food, clothes, holidays etc. He then proceeded to put the money in the envelopes - which was a good way to show why there wasn't a lot to spend despite the "big amount" that was earned. He even talked about stuff like clothes or holidays where you have to lay aside a sum each month.
These envelopes stayed in my memory and when I started college I did it, too. For instance I had a "clothes" envelope with notices on it about what I would need (new boots for winter etc.) where at the start of every month I put a certain sum. Well, it might have happened that I took some money out of it near the end of the month... but on the whole it worked :)
What a great idea @muscara - might copy that idea too!