Teaching Our Kids About Credit and Savings

My parents didn't talk much at all with us about personal finance. I didn't have a great grasp of the importance of socking away money in savings every month for emergencies, or of the dangers of credit cards. I do now, unfortunately, but I do not want my kids to learn the hard way like I did. I think we should sit down and have a big heart to heart with each of them, just like we do about saving sex for marriage, to warn them away from debt. How have you helped your kids to be savers and debt-averse?