When I made my first quilt 30+ years ago, fabric was around $5/yard. Yes, fabric prices have gone up, but it has been a gradual thing, not a sudden jump. People who are smokers pay well over $5/pack, and I can remember when they cost 25 cents/pack. In 1970, gas was 33 cents/gallon, and look where it is now.
The point of my ramblings is, if you really want it, you'll get it no matter what it costs. If you are on a fixed budget, you can still get fabric by going to thrift stores/auctions, estate sales, yard sales, etc/ or you can ask family members to gift you with fabrics or notions for birthdays or holidays, or, only buy the fabric when you have a coupon or really good sale. You can also make scrappy quilts out of leftovers from other projects, so you can get "double duty" out of your fabric. Or, you can plan ahead for your project and buy items in stages - fabric on one trip to the store, then batting on another trip, then backing, binding, thread, etc
If you figure a quilt would last for only just 1 year, the cost of that quilt is about 38 cents/day. Most quilts are around for many years. The cost of the materials may seem expensive when you pay for it all at once, but the return on the investment is pretty darned worth it.