With all the bad economic news we hear on TV and radio every day, and all the doomsday predictions from the experts, there is hardly a family now that isn’t filled with fear. Many breadwinners have lost their jobs or are bringing home a smaller paycheck. Many parents have to work two or three jobs and many are losing their homes. So how do you relate all this to your child, without creating alarm and anxiety at home?

1. Be positive. Even in the face of job loss and tough economic times, we can and should look for things to be grateful for. We are still alive, and because we have life, we must always have hope. Napoleon Hill, the famous author of Think and Grow Rich, said that there is opportunity in every adversity we face. Being positive helps you see and find the hidden opportunity in every circumstance.

2. Be honest with your children. And yes, cry if you have to. It’s okay for your children to see true and healthy answers to life’s challenges. Explain to them that mom or dad lost their job and that changes will have to be made at home. But help them realize that it’s not the end of the world and that the family will pull through together. Pretending that nothing has changed puts unnecessary pressure on the whole family. Children are very perceptive and can sense it when they are not told the truth. This fills them with more fear and dread of the unknown.

3. Cut the budget. Sit down with your spouse and children, if they’re mature, and come up with a list of luxuries the family can easily give up, to help stretch any disposable income. Take a serious look at your finances, including new clothes, eating out, magazine subscriptions, coffee, etc., and cut out anything that isn’t necessary. Consider shopping with coupons and shopping at outlets instead of boutiques.

4. List all the resources you have. Think about family, friends, and past employers you’ve done business with who were very impressed with you. List all the online and offline listing agencies and employment companies available in your industry. Formulate a plan for contacting your resources in your search for a new job. Involve your older children, as you go through this process, as they will be going through this process themselves, before long.

5. Dust off your resume and update it. Be proud and be careful while writing it. Remember, this is the first impression you give of yourself. If you submit a sloppy resume, potential employers may think it’s sloppy and may not even call you for an interview. Research potential new jobs and gain as much knowledge as possible about the job you are looking for. You will come across as knowledgeable, and that will give you an edge over the competition.

6. Take this opportunity to teach your older teens how to prepare for job interviews and how to dress appropriately. Point out to them that a well-prepared person who goes the extra mile will succeed even in these difficult times.

7. Take a hard look at yourself to determine if you could have avoided the situation anyway. Be willing to make the necessary attitude changes even as you prepare for your new job. Blaming the company doesn’t help, and new employers definitely disapprove of prospective employees who complain incessantly about their old jobs and bosses. Again, the attitude you display is what your teen will emulate.

8. Be willing to try new and different jobs. Think outside the box. You may find a job that is even more fulfilling than the one you trained for. Be flexible and willing to learn new skills. The human brain has a great capacity for learning and is often severely underused. Get your brain cells going and discover a whole new world out there.

9. Get creative. This may be the opportunity to start the new business you dreamed of, but never had the courage to start. Brainstorm creative work ideas with your spouse and teens, and don’t be afraid to take the first step. Again, it’s important to stay calm and have a positive mindset. A fear-filled mind is not a creative mind, and feeling sorry for yourself definitely cuts the innovation juices.

10. Be nice at home and avoid taking out your frustrations on your children. Parents should set good examples for their children in both good times and bad times. True strength and character are revealed more during difficult times than when all is well and rosy. Your children will respect you for it and develop good character traits that will serve them well in the future.

11. Be open and honest with your friends about what’s going on in your life. True friends are those with whom you can share both your joys and your sorrows. Pride, and pretending everything is fine, confuses your children and puts them under unnecessary stress, as they feel they must pretend too. And who knows, you may be just the partner someone in your network is looking for to start a new business or hire for a new job.

12. Be careful not to be fooled by “get rich schemes” that promise unrealistic goals. You are at your most vulnerable, so enlist the help of your spouse or trusted friend to evaluate every deal that comes your way.

Parents, remember that you are what you think and your thoughts become your reality. Even when everyone is complaining about how dire the situation is, take a step back and be thankful for all the blessings you used to take for granted. Show your children that with self-belief and a positive attitude, the right knowledge, and a willingness to work and excel, you can overcome and thrive against the odds, even in an economic downturn.

Look around you and see others who have excelled and succeeded no matter the environment. Believe in yourself and go for it, and you will have taught your children a very valuable and lifelong lesson.