I do think the schools should be teaching this, if only because so many parents do so badly at money management they are not really fit to teach it themselves. Am I the only one here who is old enough to remember having a savings account at school? It was a passbook account, and you brought your passbook with you to class on certain days.
Schools are teaching this. I remember lots of lessons on compound interest, balancing checkbooks, etc. But it totally conflicts with the "instant gratification" message. Also, parents don't lead by example. What a parent does is WAY more powerful than any lesson learned in a classroom setting.