In tough economic times, parents are on the lookout to take care of their children without spending much money. The demands of the kids like expensive video games, vacations and gadgets would take a back seat. Families could consider several inexpensive or even free options as substitutes.
One option would be to invite friends and family for fun and games at home, as an alternative to expensive movie tickets and eating out.
Working parents could consider options such as taking split shifts or forming a pool of similar parents and babysitting by turns instead of resorting to professional babysitting or child care services. Parents could also potty train small children at an early age and thereby reduce the expenses on disposable diapers.
Another option is to buy second hand clothes and trade cloth with friends and family members. Your children would invariably have clothes they have outgrown, which would fit their children, and vice versa.
Finally cutting off cable TV would not only save on the direct costs, but would also increase lead to all round development and bondness, when children start spending the time they watch television on more creative uses.