Oh my gosh! Don't go into debt or try to keep up with your neighbors by doing your kids room. I bought some POOH stickers and put them all over the walls. Everything in there looks great becuase the walls are so fun. I've got plastic drawers for a dresser because my child can look through the drawers and easily open them herself. She can get her own pajamas and pull ups and sometimes even a shirt.
(she's almost three)...
Don't spend the money! Just make it cute in your own way . You'll have plenty of time to spend cash later when they are teenagers.
BTW,.... I buy a LOT of almost new stuff at the thrift store and dress K REALLY CUTE all the time for almost nothing....