Here is my list of free/cheap online homeschooling resources, some used by me and others suggested by friends. Let me know if you have any new recommendations!
Reading/Phonics: http://www.starfall.com/ , http://www.funnix.com/, http://www.handwritingforkids.com/ , http://www.literature.org/authors/, http://www.gutenberg.org/ http://www.clicknkids.com/ http://www.swrtraining.com/
All subjects: http://www.edhelper.com/, http://www.enchantedlearning.com/, http://www.brainpopjr.com/, http://www.brainpop.com/ , http://www.apples4theteacher.com/ , http://www.superteacherworksheets.com/index.html
Math: http://www.arcademicskillbuilders.com/, http://www.math.com/, http://www.dreambox.com/ , http://themathworksheetsite.com/ , http://www.aleks.com/
http://www.khanacademy.org/ (for Jr. High and High School)
Geography/Social Studies: http://www.pibmug.com/, http://homeschoolradioshows.com/
Science: http://www.biology4kids.com/, http://www.exploratorium.edu/explore/, http://www.cosmos4kids.com/
Arts: http://www.symphonyworks.net/takenote/pdfs/NYP_Activity_Book.pdf, http://www.nyphilkids.org/games/main.phtml
Foreign Language: http://www.apples4theteacher.com/, http://foreignlanguagefun.com/
Computers/Graphic Design: http://www.alice.org/