A new reality show is putting a face on the ongoing economic crisis by following one family through their struggles to make the rent and survive. "We've sold everything extra that we have, we've cut back, I'm scared to death," admits Todd Bruce. He and his wife, Laura, are sharing their experiences of raising seven children while battling bankruptcy and foreclosure on the series Downsized, which debuts Saturday, Nov. 6. on WeTV. "My contracting business basically failed and we took bankruptcy," he explains. He and his wife have since found ways to make extra money, shrink their budget and cope as a family, and they are sharing some of their best tips with you.

Negotiate bills. "You have to negotiate everything," Todd suggests. "Rent, the cell phone, there are discounts for the electric bill, but you have to call and ask for those things!"

Use coupons. "I match sale ads to coupons and it really maximizes the savings. I save at least 50 percent every time," Laura says. "I’m a waitress a couple of nights a week and I make about $40, $50 a night, when I do that and when I look at the coupons I can save $100 - that’s like working two nights, so I look at [coupon use] as a part-time job too."

Get creative to find new ways to make money. "The kids are all athletic and we got together and started a boot camp. It’s a fitness exercise program and I got certified and so in a couple of weeks we’re going to start a family boot camp in our city," Laura explains. "It's geared towards a family package type thing, not individual rates, because it can be so expensive, and so it’s a family rate so that people can work out with their children."

Be honest with your kids: "It’s not taboo to talk to your children about money, it's important," Laura says. "Giving them that control I think, rather than having it all happen to them where it's just spinning out of control? I think that’s really what made us stronger as a family, because they had a part in it." Todd agrees and encourages other parents to talk wit their kids, regardless of the circumstance. "It's OK to let your kids know that you made mistakes, but you’re going to do everything you can to get back to where you need to be so you can take care of them."