Amen on the "wait until July to be terrified" part. I wasn\'t scare really until a week before hand and then it really kicked in. Of course, I was having twins, so I was a bit more nervous.
As for babies being expensive, they are expensive, but as long as you can manage a bank account and are not in debt, you should be okay. One thing we done when Natasha got pregnant, was we started stockpiling diaper\'s and wipes from the get-go. Now we have a huge closet full. Same with bottles, we have over 40 bottles, which averages out for 20 for each kid.
Worst part about a kid? Lack of sleep. Get use to it.