Focus on your nutrition - you can do all the cardio and crunches in the world but if your eating isn't rock solid then the belly will still be there.
Unfortunately there is no such thing such as spot training, unless you have a surgical procedure. And, unfortunately the belly and the saddlebags are usually the last to go. So not fair...
Jogging/running will definitely help as it is a great calorie burner. For some people (like me) it just seems to melt the fat right off. Make your cardio be your block of time, say 20-45 minutes where you can contain the kiddos by strapping them in and going for your run.
Then, at home when they're crawling all over the place sneak in your strength training workouts when you can. If you have to take more time in between doing your pushups, dips, planks, crunches, supermans, leglifts, etc. that's fine. At least you're doing something and coming back to it.
Focus on planks and side planks or any activity that engages the transverse abdominus muscle. It wraps around your midsection like a corset. By strengthening it, you will hopefully get the appearance of a tighter waist (like pulling the strings of the corset) but more importantly the TVA does a lot to strengthen your core and coordinate movements from front to back and top to bottom, thus it is an excellent 'functional' muscle to target.