I stay at home so the $800-1000 a month on daycare isn't an issue.
I breastfeed = no formula costs. I also don't buy "baby food" and just give Jude what we eat. Our bill hasn't gone up at all since he eats the food that, before, would have gone bad in the fridge instead of being eaten. :P
We use cloth diapers = $60+ saved every month on diapers. I hang them to dry spring - fall to save our energy bill (in winter it takes too long for them to dry because of the cold)
We cosleep = no crib needed.
I've decided on a home birth for our next child = $2000 birth center facility fee eliminated. My midwife charges $200 for a home birth (not covered by insurance) plus prenatal care (80% covered by insurance; it isn't even that much to begin with).
A car seat is the only thing I can think of other than the birth that we'd need to buy. I've saved all his clothes (a lot of it is unisex) and have a bunch of girl clothes, a stroller, a "Jumperoo", and toys and books. Obviously it won't be free but we're so frugal that I can't see having another baby as being a huge burden that will put us out on the street either, which is what a lot of sites make it sound like.
So for those who have "been there, done that" in a frugal way, is it really much of a financial wreck going from 1 to 2 kids? What am I missing? Enlighten me! :P