DH and I both had good jobs before DS, and while I was still working we bought all the big ticket items, plus lots of smaller things, like clothes (we knew we were expecting a DS!). We also bought a new car which we're still paying off.
DH is an economist and LOVES a spreadsheet or two, and he calculated we could afford for me to have 12 months at home with DS, including a period of unpaid leave for me. Unfortunately (for the budget, not for me!) we were unable to find a childcare position for DS and I've had to stay home with him. Well it's been tough at times, we've had to postpone a few bills on occasion but we've always got food, DS is happy and that's all that matters.
Now, everyone has said babies cost as much or little as you want them too. Totally agree. And this comes from someone who bought the best of everything, I think I spent more on the pram than some people did on everything. Does DS care? Not at all, I should have saved my pennies! I've actually sold lots of the things we bought because we didn't ever use them ;) So babies don't need the fanciest of prams, cots, toys etc, they just need food, shelter and a loving environment.
Wishing you the best of luck in your TTC journey.
