Like others here, I think it has to be a balance. Having chosen to become a mother, I did things for my children without thinking of it, including balancing a household budget to be able to include sports, dance, school trips etc. My DH and I never had a trip or even weekend away by ourselves until youngest was in his teens. Money for post secondary schooling was squirreled away, and nary a pedicure was enjoyed.
How does that compare to some modern mums? When I see all the puffed lips, fake fingernails and 'girl weekends' away, I wonder if there is some money in savings accounts for children as well.
But I (or we, as parents) are not slaves to our children. We had limits on gifts, rides home at all hours, expected them to pay for some of their post-secondary education costs. I hope and think that we have their respect, and know we have their love.
But I would never make any large life-changing decisions without taking my children into consideration. I know one divorced woman who left for a better job in another city, leaving full time custody with her ex. I would have struggled on less money to stay close to them. Nonetheless, she still maintains a very good relationship with them now as adults.