Does your child expect to have the latest Xbox game or a car on his or her 16th birthday? It's always nice to provide your child with things they want, and then watch how excited they get when they receive it. But giving a child too much is wrong, and parenting out of guilt is wrong.
Your parental job is to prepare them for the next level of life. If you give them everything they want, they are preparing for a life that isn't real. If there’s no money, they need to hear that there’s no money - and not feel bad about it. Your children need to learn that life is not about getting what they want, when they want it. They should understand that they need to wait, and even work for the big ticket items. If you provide a life of gadgets and the latest games and toys, you aren't preparing them for how it will be in the future. You're creating high-maintenance kids - that will turn into high-maintenance adults.