Have you heard of the knifty knitter? Its worth every penny. Usually cost around $14.99 but you can find it on sale at Michaels for around $10 during the fall and winter. Or you can use your 40% off coupon when its not on sale. It comes with 3 rings, instructions and a knitting tool. You can make hats, scarfs, pillows, and even blankets. There are also lots of idea's on the internet so just research and the possibilities are endless.
Hats are my favorite. I let my girls pick their own colors and make them hats every year. I add pom poms for my little ones. They just love them. They watch me make them and are so excited when they are finally done. Each hat maybe takes a hour to make so they are super fast.
The reason I say its budget friendly is because you can get around spending very much money to make hats. This yarn in the picture is wool Lion Brand Yarn that I picked up when I worked for Michaels. Its been laying around forever so it was no money out of pocket this year. Plus I worked at Michaels for 10 yrs so I probably picked it up for super cheap. Wool isnt the favorite yarn for most. It isnt the softest but we love it and it doesnt bother us. Plus you can felt with this yarn.
Here's the budget part of it. You can pick up random yarns at thrift stores anytime of the year. And its usually super cheap. I saw some last week for only 40 cents per roll. Super cheap! The knifty knitter needs medium weight yard to make hats. But if your in a pinch and only have thin yarn, then double it up. As you can see from my pic, I used 2 yarns at once. You can use any yarn too. Not just wool. If you use cotton yarn, I would reccomend also using a polyester yarn with it so its stretchy. Cotton tends to be very tight to work with. Its great for hot pads, washclothes and things like that. Cotton is really good for baby hats because its soft.
If you dont have a knifty knitter, borrow one from a friend. You can find them anywhere. Walmart has them, Micheals, and many more places. Worth every penny.
This picture is one of my twins. I still need to add the pom pom to the top. I am working on the other hat for my other twin and I wanted to make sure I had enough yarn for her hat before I made the pom poms.