When I first lost my job, one of the promises I made was to not let it affect my kids. So, I set out making a list of free an/or cheap things I could do with the kids. I made a few lists honestly, losing all but one. Here is the contents of that one list:
Backyard scavenger hunt. Make a list of items the kids need to find and offer a prize. Maybe make a special treat, or let him/her pick dinner from the dinner list! For younger kids, walk with them and help them.
Teach your kids how to cook! Cookies are one of the easiest things to make with a plethora of recipes on the internet using basics you probably already have! Weekly cooking lessons work as well when helping to make dinner. This also involves them, makes them feel important an helps build self esteem!
Create and build! Buy some clothespins for a dollar and make the people. Use old boxes to build and design houses.
Fishing. Most places children under a certain age don't have to have a license. You may or may not so be aware!
Go swimming! Pack a lunch and head to a friend's pool or a local swimming hole!
Tour a firehouse or police station! My kids have done this but continuously want to do it.
Arts & Crafts. Markers, paints, an crayons can all be found at the dollar store. $1 per set of paints and brushes and another $1 for 200 sheets of paper and you're in business!
Visit a state park. I'm lucky to have a state park just down the road. Hiking, playgrounds, picnics, are all free and are great ways to bond with the kids.
Visit the library! Memberships are free and keep content fresh for the kidos!
Check free activities at your local library or church!
Stargazing. You don't nee a telescope for this, and you can use internet sources to learn about the stars and constellations!
Livingroom movie night! Take my advice for free movies to watch at home, or borrow some from friends! THrow some blankets on the floor with some pillows, make popcorn and have fun without the movie prices! You can also get movies for free at the library!
Indoor camping. I use this through the winter and in conjunction with the livingroom movie night. I set up a tent in the livingroom with blankets an pillows, we all get in (dog included), issue each kiddo a flashlight, put on a movie an watch until we fall asleep! When my youngest gets older I'll be adding in ghost stories and such (easily found on the internet).
Free workshops at the home improvement store! Often Lowes and Home Depot have kids workshops for free!
Go to the park!
Paper airplane races. Go on the internet an find different designs. Teach your kids how to make their own, let them decorate them then try them out!
Water fights outside. I bought a few water guns/squirters for a couple of dollars and they provided us with hours of entertainment. Using a bucket, pot, whatever you have, fill it up with your ammo. Make a rule that anyone filling up can't be shot. This will encourage the little ones to refill instead of just running away and then getting frustrated!
Bedroom fort. Just as it sounds! Build a fort in the bedroom (livingroom works as well too). You can stage attacks with paper airplanes as well!
Make pine cone bird feeders! One day go on a hike and find pinecones. Another day, smear some peanut butter on it an roll it in bird seed ($1 at the dollar store for peanut butter and bird seed). WHen you're done, tie them to a tree limb outside!
Have the kids make their own museum! Drawing, coloring an cutting out monsters, dinosaurs or whatever will keep them entertained. Then when they're done making the critters, they can set up shop in the livingroom! Make sure you ask for a tour so you can see all the wonders of their world!