Mate I'm in the same situation but minus the kid at this stage. The biggest thing you do have in your favour is time at 26 you don't need to rush in but but make sure you keep moving foward bit like the story of "young bull old bull" (do I need to tell it?). Instructing part time on weekends may be your best answer at least you will be home each night and can earn a decent wage during the week.
You mention mining and shearing sheds I'm doing the mines now (dont like sheep even though I'm Kiwi and live in the wheat belt
) to try and save up for my next stint up north as I just cant afford to live off 500 a week. I have over 1000 single hrs and the next step is those 500 multi. I have found as you gain more hours it is easier to get flying jobs.
As for the Cadetships they have their place but I think it will be at a great financial cost down the track and you will regreat it when it becomes time to buy the house etc. There are other ways to build the hours and earn a good living such as Surveying I belive all the survey companies are looking for pilots but again this has its downside such as not letting you have a life doing 6-8week shifts belive me it sucks big time unless you are single.
Appart from winning Lotto there is no easy way its all about sacrifices, each path has its merrits and pitfalls and you just have to find the least painfull one that suits you.