Do you sew? Really a basic straight stitch is all you need to make some fabulous accessories. Mix and match your patterns, add trims/piping for a "finished" look. Think outside the box when picking fabrics. Things like shower curtains/tablecloths/sheets/dropcloths make great cushions and window treatments for a fraction of the cost.
I made the headboard, we had the fabric monogrammed and then applied to the headboard. A very simple project- just cut the piece of plywood to your desired shape, add some padding and stretch fabric, stapling to the back. The duvet came from a discount store and I simply added a pop of color to it. The possibilities are endless. I also made a skirt for the bed using Velcro to attach it. Makes it so much easier to take off for washing.
Don't forget the ceiling. We added a medallion. One of the accent fabrics we used is a large floral so I made a "flower" for the ceiling. Love how it turned out.
If you think outside the box you can come up with all kinds of great ways to save yourself some money, yet get a great functional, beautifully decorated room. Happy Decorating!