Hi K.,
You've gotten great info so far, from our other moms. I'll just say that doing regular laundry is key to saving money. This means you would do laundry about every 2-3 days if you had 8 sleepers, 8 onesies, etc..... and of course it depends on how much your baby spits up (which can never possibly be measured beforehand!) So, if your infant has sensitive skin, you will need to purchase the Baby Detergent, which is a little bit pricey. You will probably use the full-size in about 1 month. So figure 12 jugs in the first year.
Don't forget burp cloths. They can be as cheap as a white cloth diaper bought in 6-packs for $10, but they need to be washed ALL THE TIME unless you have 30 :O)
If you have a girl, I would add an extra $200 per year, because she would have more outfit necessities than a boy would need. BUT..... that's not a requirement, only a desire, because we all want our babies to look their best on certain days :O)
Baby blankets......well, first you need a few infant blankets, probably 6ish. Babies like to be wrapped tightly in these their first few months of life. Those are a necessity. Then you probably want a couple of larger one's to use anywhere. You need one with you at all times in case you need to change your baby in a public restroom, or whatever. I had 3 cute blankets and used all of them regularly for different things.
Do you price out diapers and food, too? If you do, then figure 10 diapers per day (some days will be more, some less, but the average is about 10). 2 tubs of wipees per week. Then ointment for a diaper rash, probably 1 medium tube per month.
Formula, about 1 can every 5-6 days, depending on how much your baby can grub! Even the Generic is expensive!
Baby food jars-figure 10 per day beginning at 6-7mos old.
Baby Cereal Boxes-figure 2 boxes per week at 6-7mos old.
Quick baby story: I went on a cruise 7 years ago with my 6 month old. There was NOTHING available for him, so I had to bring it all for 9 days!!! I figured 10 diapers per day= 90, and I only came home with 4 diapers! I figured 10 jars of baby food per day, and came home with 6! I took 3 cans of formula, and brought home about 1/2 of the last can. I took 4 packs of wipee's, and used them all, but for other things, too. Anyway, I tell you this because I barely packed enough, so I know exactly how much my son ate, drank, and pooped on that trip :o)
Good luck on your project, K.! I hope you do well :O)
~N. :O)