My friends who visit me at my place a lot of times tell me that if they had money they would also like to style up their room, but I always explain them that you really don´t have to have a lot of money to style your room and make it cozy.
I am still a student and live on a low budget, but making your room stylish doesn´t have to be costy at all.
For making my bed look fancy I just got myself three (because my bed is at the wall otherwise I´d need four) round screws, a long white cord and white linen curtains from Ikea for 25 Euros two pairs. The important thing when using a cord is to know how to do a tension knot that are also used for sailing. There are many tutorials on YouTube that teach how to do it. It´s not that hard. Otherwise you can also a pole for the curtains.
Now you only have to bore the holes for the screws, put up the cord and the cutains, knot them with the special tension knot and your canopy bed is done.