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Facing a furlough? Six ways to prepare.

Many Americans are starting to feel the pinch of reduced federal spending.Government and even nongovernment workers face furloughs or even layoffs as the budget purse strings tighten. Here are six ways to get ready for a furlough or unexpected layoff:

5. Talk to your kids

Brent Drinkut/The Journal & Courier/AP/File
Lifeguard Nick Friend watches over the activity center at the Prophetstown Aquatic Center in West Lafayette, Ind., in July. If you face a furlough or layoff, your teenagers can help make up some of the lost family income with lifeguard and other part-time jobs.

  • By Wayne von Borstel Contributor

Let’s say you have to cut out a week of summer camp or not purchase a new electronic toy. Be honest with your children and explain that there’s a little less money to go around. If they’re teenagers, maybe they can make up half of the lost family income with part-time jobs – and learn an important life lesson along the way. Encourage your children to take on odd jobs such as babysitting, yard chores for neighbors, lifeguarding at the local YMCA. Encourage your college-age children to take on campus jobs to help cover living expenses and produce their own rainy day fund.

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