As for specific line items in the budget-
Pregnancy/Delivery medicals: We have "very good" insurance, and it still cost about $9000 out of pocket when it was all said and done. (I ended up having an emergency burst placenta vessel at 20 weeks, an emergency c-section, and post-birth complications that kept baby and me in the hospital for 10 days. You might not have these issues, but I would budget at least $5000.)
Baby furniture (ie. crib, changing table, dresser drawers): I'd budget $500-$1500 for this depending on what you're looking at buying.
Breast Pump and feeding supplies: pump will run about $300, bottles/nipples another $100 or so
Formula (if you go this route): $80/mo.
Baby Supplies (diapers, wipes): If you cloth diaper, I'd set aside about $200-$300 for a set. If you use disposable, $50/mo.
Toys, books, clothes: You can get a lot used. And little newborns don't need as many changes of clothes as older babies and toddlers and we received a lot of infant items from friends and family. Still, I'd budget $20-40/mo.
Periodic Babysitting: In addition to the everyday daycare, you will want some time away from the baby. Unless you have a free babysitter (grandparent, sibling, friend), I would budget $40/mo for this.
I'd use these numbers, or something like it, when putting together an example budget. You'll get a better idea of what you use and need once the baby arrives.
Wow, this is completely different from pretty much anything I would suggest money for.
Medical: with my emergency c-section and everything, all pregnancy/delivery medical bills were about 6k, I think. We definitely reached the out of pocket max.
Baby furniture: my in-laws gifted us a cradle, which our daughter spent exactly 0 nights in because she flat-out refused to sleep anywhere but in someone's arms for her first 5-ish months. We finally bought a mini-crib in July ($235--in-laws put down $150 for that, because they wanted to and I think they think we're either poor, or that we have their spending habits and need their help, or something) and we're transitioning our daughter into that now. When she gets bigger, it can transform into a twin bed so we shouldn't need to buy her another bed. (I see no need for "toddler beds". Either use a mattress on the floor for a while or buy/make a barrier for a regular twin bed. It's not rocket science.)
And, no need for a changing table. When I couldn't bend over after the c-section we used the dining table for a while. It was so chaotic for us that we didn't miss the dining table's intended purpose. Then we moved to the floor and now we're doing early potty training, which is AMAZING. (Read "Diaper Free Before 3".) Having her on the floor is especially nice since she flips herself over as soon as we've got the diaper off and tries to crawl away. I can't imagine how freaked out I'd be if she were doing that on a changing table, up high. She would not do well with being strapped down, either.
Breast pump: I said it before, look into how much your insurer will pay for one. If you've got maternity care, they should pay for at least part of one. I still had to pay about $80, but in part because I didn't go through their out-of-area "approved vendors" list. I then spent a few bucks for a hand pump for at home, so I didn't have to cart the big one around with me. And other than the bottles which came with it, we got one silicone bottle as a gift and it's her favorite. It's wide-mouth so it's super easy to wash out, and that's the only bottle we really use. No need for tons of them.
We did have to supplement with formula in the beginning, I think it was about $30/box of formula? The key to breastfeeding, for me, was persistence. I lost a lot of blood during the surgery and was severely anemic, so I just needed time for my blood supply to get back up so that my body would produce enough milk. Having the number of a good lactation nurse was crucial. Ours was free because our area has free public health/lactation nurses who will make house calls for the first year of a baby's life. See if your area has something similar. I got the number for ours from my OB as soon as I mentioned my desire to breastfeed. Even if there's no free public health stuff in your area, your doc or pediatrician will know the number of a good and probably low-cost lactation nurse. Again, see if your insurance will cover some of that cost. If not, ask why not and point out all the reasons having you breastfeed will save them money in the long run.
Diapering: please at least look into cloth diapers. Soooo many people will make it seem like a pain in the butt and many of them have never tried it. It doesn't suck, I promise. My husband was willing to do it for the cost savings but was wary. After the first month he said, "I really don't see what the big deal is, or why people make it seem like it's going to be tough." If you do want to cloth diaper, you can find low-cost used ones online, or ask around and see if someone's willing to give/sell you their old diapers. A shit rag's a shit rag, doesn't matter if it's been used before. :) And with cloth diapers, you can cut up a soft rag to use as wipes and then toss them into the laundry with the diapers. No need to buy wipes.
Toys, books, clothes: We've spent a grand total of $3.50 on clothing for our daughter, and she's in her 5th size of clothes. The two items we bought (used) we just thought were cute. Who needs to spend $20-40/month? Ask friends and family, and get them to ask their friends and family. At the very least you'll know someone who knows someone who wants to get rid of baby stuff. And if you don't get everything you need, then look at used shops or online. You can clothe a kid for less than $100 for the full first year.
