First timers last year and keen to keep costs down.
Would you take them out of school for the week?
We went the week before February half term and flights dropped from £3000 to £300. Accommodation dropped from £1400 to £750. We went self catering. We never put the food budget into our holiday budget as it's similar to what we'd spend on food at home anyway.
Lift passes are the killer, but we managed to find a discount website to buy ours which saved us about 20%. However they were still around £600 for the four of us for the week.
Ski school prices stay the same in both term time and holidays (at least they did where we went).
We went to Rauris in Austria (just outside Salzburg) and found prices in resort to be reasonable. Even up on the mountain, when you're a captive audience for food and drink, it was still reasonable. On par with the UK really. Some days we took packed lunches, other days we ate out.
We paid for a ski package for the DC, so lessons and hire were all included. It was 6 day hire and lessons and was €190 per child. DH and I opened for private lessons and shared an instructor. We had three mornings of lessons and the school offers private lessons for up to two people for 2 hours for €120, so €30 an hour each. Each additional person in the group is offered at a €20 rate. We hired our skis/boots/poles separately. I can't remember what they cost but overall hire + private lessons worked out roughly the same as the adult group lesson + hire package for the week (approx €220 each). But by having private lessons we had the afternoons to ourselves and had focused attention so progressed faster.
We saved money by getting a train/bus/taxi from the airport to resort. Reasonably easy if you're comfortable using public transport abroad.
Decathlon is excellent for low cost clothing. I got DS2 an all in one ski suit for £13 in the sale. Also check FB Marketplace and eBay. I got my salopettes for £3 on eBay.