Are we destined to be the Weasley's?

We have two boys.  Naturally, the second son wears a lot of hand-me-downs from our first son.  I saw this article today, http://omg.yahoo.com/news/elizabeth-olsen-wore-mary-kate-ashleys-hand-downs-152644231.html, about Elizabeth Olsen wearing hand-me-downs and it made me I wonder if that REALLY matters to kids?!  Now, I'm the oldest, so of course this is a non-issue to me.  But especially with boys, it seems silly to buy new clothes when you have an entire wardrobe of clothes already! 

In the Harry Potter series, the Weasley family has four children - three boys and a girl.  The series makes a point that the children all get hand me downs, as the family cannot afford 'new' wands, robes, books, etc. for each child. 

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But the Weasley family was tight-knit, and they all loved each other. Isn't that what makes a happy family? You don't need new things to be happy, and isn't that a good life lesson in and of itself? I'm sure my sister and I would have shared more clothes, if we had fit in the same size or had a more compatible style!  But when you are young, you are wearing what your mother picks out.  At what age does 'style' come into play?

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I understand that a child needs their 'own' things, and I hope to be able to provide Zachary and any other children we may have with certain things that belong to only them.  But didn't you wear hand-me-downs as a kid? Is it really that bad!?! Tell me your thoughts. I know my sister will!