What monthly expenses are associated with a newborn?

You'll probably spend a bunch of money stocking up on baby supplies in advance, but many wonder how much it will cost every month once the baby arrives. Babies are relatively simple creatures, and the main elements of caring for a newborn are feeding them, cleaning / changing their diapers and making sure they're rested. The sleep is free, but here is a rough approximation of monthly costs for a young baby.

Formula, $75-105
If your child will be breast-fed, this column is free. If you are planning on bottle feeding, a baby generally eat 2-3 ounces of formula per pound of body weight, so 14-21 ounces a day for a 7 pound baby. Powdered formula (Similac organic) costs about $1 per 6 ounce bottle. This intake level will set you back $75 - $105 per month.

Diapers, $97.40
A newborn usually needs between 8 and 15 diaper changes a day, usually towards the higher end. Estimating 13 diapers a day at $.25 per diaper, $3.25 per day or $97.50 per month. (Update: Save 15% on diapers with a subscription from Amazon.)

Wipes, $15
Depending on the type you buy, budget about $15 per month.

Pediatrician co-pays, $50
Estimating a $25 visit co-pay, budget for $50 per month for the first couple of months, $25 there after.

Miscellaneous $50
There are plenty of little expenses that fit into this category. The items I'd put in here include Mylicon (anti-gas), Desitin for diaper rash, baby lotion and oil, baby vitamins and countless other little things. For this, I'd estimate $50 per month.

Baby detergents, $20
We use a special dishwasher detergent baby bottles and laundry detergent for baby clothes, which cost between $10 and $20 per month.