I thought it would be useful to list some ways to have fun with your kids without spending a lot of money. These are some activities which i had personally participated/played/worked out with my two daughters( 10 yrs and 6 yrs)
Write stories together.
Paint or draw together.
Create a fort in your living room out of blankets or cardboard boxes.
Go on a hike or trek
Have a dinner picnic at a park or beach or even your terrace.
Play board games.
Get up early, cut vegetables & pack breakfast
Go to a museum.
Go to a playground.
Have a pillow fight.
Build sandcastles in the beach
Rent/buy a cartoon dvd and watch together.
Have a scavenger hunt.
Make puzzles/sudoku for each other to solve.
Play card games.
Make sandwiches together.
Go to the zoo.
Go to the library.
Create/Help in working on a blog together.
Create a scrapbook.
Make a movie using a digital camera and computer.
Learn to play music.
Make play dough from scratch.
Make lemonade, relax and enjoy.
Go to a pool.
Go to a public place, people watch, and make up imaginary stories about people.
Write letters to family.
Paint or decorate a room.
Create a treasure hunt for them (leaving clues around the house).
Decorate/Embroidery work for a pair of jeans.
Do a science experiment.
Play games online.
Teach them to play chess.
Learn magic tricks.
Create a family book, with information and pictures about each family member.
Donate stuff to charity.
Compete for a running race together
Play music and dance crazy.
Write and produce a play (to perform before other family members).
Have a water gun fight.
Have a sword-fight (sword made of cardboard).
Explore your garden and look for insects.
Explore your street and collect rocks & pebbles
Go for a walk and explore the neighborhood.
Go jogging/walking together.
Take pictures of nature.
Make up funny questions about each other.
Clean the house together
Do shadow puppets.
Make a comic book/booklet(my daughter love to do this)
Play in the rain.(don’t complain to me on the cold later)
Take turns saying tongue twisters.
Tell ghost stories in the dark with a flashlight.
Build stuff with Legos/building blocks
Play computer games together.
Build paper rockets and play with them
Bake a cake and cut them for birthdays/special occasion/no occasion
Arm-wrestle, or have a tickle fight.
Learn and tell each other jokes.
Walk barefoot in the grass and pick flowers.
Build paper airplanes and have a flying contest.
Prank call their grandparents, using disguised, humorous voices.
Send a mail and ask them to reply back to you.
Help them to create a story in power-point.
Play Jenga blocks.
Create stories together with each contributing only one line at a time.
Take them to your office event/programs.
Help/Contribute for school project work.
Make Goal Charts together.
Go for a ride in bike.
Go to parlour & Eat Ice-cream together.
Go to the roof-top terrace and talk about sky, stars & moon.