Adults underestimate the intelligence of children and their ability to adapt. If you’re worried that your change in financial situation would hurt your children, well, it would only do so if you do not explain this properly to them and not preparing them for the change in the lifestyle that they’re used to.

This depends on how old your children are. Of course, it is still necessary to talk in a manner and to use words that your children can understand. The important thing, however, is to make sure that you are honest.

Find a time when all the family members are there. Sit and discuss what’s going on. Explain why you need to change things in the household and how everyone’s help is needed to make things work. Try to answer the questions as patiently and as honestly as possible. You can also ask suggestions from your children. Getting them involved will make them feel that you’re all in this together and their opinions are valued.

Help put your children’s mind at ease. Make sure that they know that although this may go on for a long time, it is not permanent and that you and everyone else are trying to work on the matter (make sure that you are). Tell your children you love them and re-assure them that change is inevitable, your love for them and your support is always there.