One way to save money and time on breakfast is to make your own ahead of time and freeze. Some ideas are to make waffles and French toast ahead of time and freeze. They can be warmed in the microwave, toaster or toaster oven. I think they taste better than the store bought ones and you know what ingredients are in them. Also by making your own, you can add flavors and ingredients that you like.
A couple of recipes I have tried and liked are Better than freezer aisle copy cat Eggo waffles and Pumpkin Chocolate Chip Waffles. I also recently made French toast and made more than I needed for that meal, then warmed up for breakfast the next couple of days.
As Crystal states in her post, it is also an opportunity to get your kids involved in the kitchen. It may seem like it takes longer to have your kids help you but in time they can be more helpful and learn how to cook.