Choose a paint color that fits your daughter's style. Paint is a cheap way to brighten up any room. Pink is classically girly, but lavender, yellow and pale green are also good choices. For girls who want a bolder look, go with hot pink, lime green or deep purple.
Select furniture that will suit your daughter as she grows. Repurpose older furniture with a coat of paint, or even wallpaper, and a new set of drawer pulls. White furniture against a pink backdrop is classically girly, and white furniture can be a blank canvas for later down the line.
Choose patterned fabrics for a rich look that's also affordable. There are many sources for great fabrics at a low price, such as the remnants bin at fabric stores, online discounting sites, or re-purposed fabric from thrift stores or vintage clothing shops. Fabric can be tacked onto wall shelves or a nightstand, glued onto an old headboard or dresser, or framed and hung on a wall for a unique and interesting piece of art.
Decorate the walls with framed pictures. Frames can be found cheaply in thrift stores and yard sales. Give them a fresh coat of paint. Pictures can be of your family or your daughter's framed works of art. Photocopy and enlarge images from your daughter's favorite stories.
Bring all the elements together with a comforter. Since the bed is the centerpiece of a bedroom, the comforter should incorporate all the other design elements. Re-purpose old or plain comforters with dye, appliques or create a faux-quilt by stitching on inexpensive fabric remnants.
Bring in detail elements that add shine, color, or fun. Feather boas can make a great trim to shams or curtains, beaded curtains can add drama to a closet door or window, and strings of fairy lights around the top of the room can create an enchanted glade for your princess, all without breaking the bank.