Ditto on the Consinement/Thift Store/handmedowns/garage sale for clothes. You'll probably find that you won't need to buy much clothing until the baby is about 6-9 mos if you have enough friends and relatives!
Diapers/formula/babyfood: COUPONS in the sunday paper insert and register for everything you can find on line. Just search under the brand names -they all have some kind of club that send you coupons. Don't assume that bulk stores like Costco and Sams are cheaper -do the math. I found that the diapers at Sams were more expensive per diaper and the formula was a great buy. Try different kinds of diapers at different stages of your kids growth. Ditto also on buying up on babyfood. My DS (now 11 mos) has decided he wants nothing to do with babyfood now that I have a cupboard full!
Breastfeeding: With DD I breastfed until she was 9 mos after two cases of thrush -read up on it and diagnose it early! OUCH! Otherwise the experience went really well. My mom rented me a pump and I started using it immeadiately upon my return home from the hospital. It really helped my milk come in. Once I was certain that breastfeeding was working for us I bought a Medela Pump In Style Traveler. Its expensive but pays off in the end. I also had a job with a private office to pump in. With DS, breastfeeding did not go as well -I quit at 5 mos. By then I was even a stay-at-home mom. The boy was driving me mad -wanted to eat all the time. I wasn't expecting it to be harder the second time around! Looking back I should have quit earlier. Let this be a lesson: Listen to yourself! Different moms, different babies. Do what works for you and yours! One day at a time, yatta yatta yatta.
circumcision (sp?): Very personal issue that will get women up in arms in a heartbeat. If its a religious matter then do what is right spiritually. If not, then educate yourself by asking your future pediatrician. I asked mine if he was in my shoes what are the pluses and minuses. I ended up not getting DS circumsized and figure that if someday some teenage girl won't touch it because its "different" then whoo hooooo score one for mom and abstenance!
BIGGEST HINT: Get yourself a diaper pail or lidded bucket and some Borax powdered laundry booster. Do this even if you're using disposable diapers. You dissolve the Borax in some hot water and used it for dirty laundy. I didn't do this until baby #2 and I wish I'd done it sooner! If you don't get to those diaper leaks

and food/formula dribbles right away they soak in. Once a stain has dried its a pain in the @@@ to get out. I found that stain sticks, baby sprays, etc. didn't work for me. You don't always have the time to scrub a stain, so you just throw the offending outfit in the bucket. When you go to do laundry it'll be easier to get the stain out and the Borax is easy on the clothes. Saves time, clothes, money and your nails! Our mothers and grandmothers used Borax -its a great product.
Last advice: Take it all with a grain of salt! Having a baby is kind of like planning a trip to WDW: you can get overwhelmed by all the info and you can't plan everything!
Enjoy this time!
