Be honest with your family: Avoid a Debt Disaster

Be honest with your family. Some Extra-curricular activities (music lessons, summer camp) might have to be cut in order to sacrifice for the good of the family. Encourage the kids to get part-time jobs, and if they are over age 18, they should pay rent (if they work irregularly, ask for 15-20% of a paycheck, rather than a fixed monthly price).