Here are some photos of our guest bedroom decorated on a tight budget.
The headboard, footboard and night stand were a set we purchased from an estate sale for $10 when we were first married ten years ago. The tall picture frame has received a new life. It used to be from a three sided room divider photo frame that we received as a wedding present also ten years ago. I simply removed the hinges and painted it black.
The duvet cover I made using a shower curtain (the patterned fabric) from a former house, and a black flat sheet.
All three pieces of furniture I sanded lightly (they are cheap veneer) and primed with Benjamin Moore Fresh Start Primer. Then I painted 2 coats of dark grey I mixed up myself using leftover paints. Then I simply sanded away the edges using a sanding block and added new hardware. I also added a basket to the night stand to give it a bit more modern look.
The canvas is just inexpensive Ikea fabric stretched over a mdf frame I nailed together.