Hi Sharon - congrats and enjoy yourself while trying to conceive!! This is just my opinion but I thought I'd throw it out: My husband and I are not wealthy at all (the opposite, perhaps) and we have been budgeting for our first child quite strictly. (Our baby is due this month but I was starting to save a year ago - like you!) How much a child costs is individual and dependent on so many things. You should think about things like how long you plan to be at home, what your maternity leave benefits will be, how to budget to sustain your household, etc. If you plan to return to work, look at local child care providers and their costs. We're really trying to save our pennies now because the job I worked at paid a good salary but it was so far a commute there is no way in this world I could do the commute and have a child in daycare. Plus, I don't like the work. Similar jobs (that I still don't like!) closer to our house pay not enough money to justify working full time and paying daycare. So, we're entertaining different scenarios for our future. We have good cash now but are really saving to make sure we have some cushioning when we need it.
In terms of the infant cost themselves - again, this is so individual. Just my two cents but some people tend to think they "need" so many gadgets and products - things our parents never had because they didn't exist! My opinion is also that you shouldn't go overboard now (unless you can afford to!) because a child costs money for many years to come. I mean I'd rather have money to send my child to university than money to give them Tommy Hilfiger shoes at age 3 months, you know what I mean.
I have found that family, friends will give you a lot of stuff - you may not even expect the generosity. I have been given a lot of used items this way. I'm also planning to breast feed and to cloth diaper (this saves money). I bought most of my cloth diapering supplies at a seconds outlet or via Ebay (saved a lot of money). People buy things like Pampers Wipes - I just will use a washcloth and warm water - it's cheaper and that's what my mom used on me. There are lots of ways you can save money. Garage sales, the Goodwill, consignment shops, church bazaar sales, etc. - all good places to find baby stuff.
http://www.sweetcheeksdiapers.com/checklist.html - this URL gives you a good idea of things you may need.
In addition to using your family and friends as resources, most pregnancy books (i.e. The Baby Book by Dr. Sears) will give lists of suggested items. Prices would depend on where you live, shop and if you buy new or used.
Good luck, Sharon!
