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Come up with a budget now and stick to it. Cut cable, make your cell phones have the basic plan, plan your errands to save gas, meal plan and shop with coupons to save money.
do you plan to breastfeed at all? because giving that a try is not only beneficial to the baby but CHEAP. :) As far as stocking up on formula, I would caution against that only because there are so many types of formula that you won't know what might work best for your baby and it would be bad to have stockpiled formula you can't use. Wipes are good to stock up on, coupons are usually in the sunday oregonian so if they sell that in salem, I'd get it or look online.
I'm delivering at Providence Portland Medical Center. Providence St' Vincents is also highly recommended and has a level III NICU. Have you checked what your insurance covers for delivery? Emmanuel had the highest csection rate of portland area hospitals for 2011. I don't know why but I want to birth somewhere that c section is not as common. I think many hospitals have pushed for unnecessary csections in the past.
I don't have any other suggestions, because we have always been a one income household, so there was no transition to have advice to give.
However, everyone I know chooses Silverton Hospital to birth at instead of Salem.