This, of course, could open the door for you, too, to explain how you'll be doing something similar in your own home. Tell your son that your family is going to put together a budget--a plan to help you all save more money--and in order to make it work, everybody in the house will have to help by giving up something they like. "Mommy is going to stop going to the coffee shop for the tall double shot hot mocha latte, and Daddy's going to cut back on his golfing. I want you to think about which of your extracurricular activities you'd be willing to put on hold while we save money."

I assure you that your son not only will understand what you're asking him to do, but will happily offer up ways that he can help. Kids are especially helpful in that regard when you're upfront and honest with them, without being scary. He'll be even more happy to pitch in if you offer to make up for the time he'll miss with his buddy at tennis practice by getting the two of them together for play dates. This is simple enough to do: On the days when the two of them would have been playing tennis together, perhaps they can take turns playing at each others' houses or at the park. You'll be saving money on tennis lessons, your son's best friend's family won't feel as bad about having to cut back if their child is still having fun, and, best of all, the time they're spending together as best buds won't cost either family anything more than a popsicle or two and some quality time. As long as the boys are getting their face time, they'll be happy. And if they're happy, their mothers will be happy, too.