When my children were young, we never seemed to have enough money to take care of everything that need to done. They always had enough food to eat, clothes on their backs (suitable for whatever the weather was), toys to play with & gifts on birthdays & holidays. Sometimes I wonder how we ever managed & if we could go back to living that simply. I doubt we could, but I'd love to try to live at least a little more simply in these days of "economic downturn."
One of the things that I did when mine were little (before they cared what was in style) was to shop all of the end-of-season clearance sales. I would buy things in a size or so larger than they were wearing then & put it away for the next year. That's how I always made sure they had coats & snow boots, and they were always nice ones, too. As they got older, I continued to shop clearance sales, but I put a lot of my purchases back for the holidays & made sure to shop online clearance sales, too. Yes, sometimes they complained that they only time I ever bought them anything was when it was on sale, but they didn't do without anything, either.