Is there any way to nicely state that you're not interested in equity and prefer cash? I haven't found it. It seems to put off employers who think of equity as an incentive.
And I've met some fantastic companies who have done this, so it's not about bad employers either.
Yes, just explain that you have bills to pay, and while you wish you could participate more in the equity, you're at a point in life where you need cash.
Typically, startups have a mix of employees who are skewed to more cash or more equity.
Would you be interested instead in a well-defined bonus with a bit lower salary? Let's say after each year of work. I am a believer in incentives but I agree that for employees the options are often not the best way to go.
And I've met some fantastic companies who have done this, so it's not about bad employers either.