A nursery on the cheap

This fall I was laid off and with a baby on the way my husband and I have cut back dramatically. Nurseries can often be expensive and run couples into the thousands. At the moment we're a bit short. I also don't want her first room to be barren and looking as fun as the inside of a brown paper bag. So how do you make a comfortable and cute looking nursery on the cheap? 

You get creative. You make your own. You plan wisely. 

I've been gathering ideas (thank you Pinterest) and my goal in the next few months is to sew, glue, stitch, whatever as much of Peanut's (the nickname her dad has given her from day one) room as possible. 

Here's the cute things I can't afford but if I could I would:

Land of Nod Crib. Actually this was kindly given to us by my parents as a baby gift. I really don't recommend anyone trying to make their own crib unless they are some amazing master woodworker/furniture maker. Seriously. 

Land of Nod dresser made changing table. Hell yes double duty system!

Great Little Trading Co. hanging bookshelf. If you are tight on space as we will be this is a great option  as opposed to a bookcase.

Target balloon rug

Land of Nod rocker. Midnight feedings wouldn't seem so bad in this. Right?

So the challenge for the next two months:

Make a cute and unique nursery on a limited budget.