Yes, you can have the joy of raising children without going broke. Although we live in a very materialistic society, it is incumbent upon all of us to teach our children well. They will feel the tug of peer pressure, the "need" to have $100 Air Jordans. If you can teach them money literacy early, you will have gone a long way toward saving them years of financial and emotional grief. Kids learn best by example. If they see you buying new shoes every month, they will want new shoes. If you get the newest computer every six months, they will want the new Nintendo. If they see you being smart with a dollar, they just might learn that, too.