Thanks for the replies so far

I guess I'm especially interested in the ongoing costs once the baby would be here.

For instance:
How much would you spend on nappies a week?
Still not sure about BF or formula (I guess I like the idea of BF but you never know), so what's the cost of formula/week?

I guess I'm figuring that in terms of set-up costs (e.g. furniture) we can afford to buy those items before the baby is born as we regularly put money away each fortnight.