EW, we have made plans financially - as the main wage earner, i'll be doing the full time earning. DP earns just over min. wage and is part time in a supermarket - FT hours hard to come by, but he regularly does them with over time. However, if he works FT or PT when baby comes, he will earn the same, so may as well do his 'regular' PT hours, and we pay for childcare for those times, and then he does any extra hours on one of my days off.
Basically he would earn £800 FT, childminder FT is £400ish, or £500 doing 19.5 hours (which is what he is contracted to now) with set days/hours, so we only need 2 days childcare (the third day he works is a saturday so will try to persuade grandparents if I am working that day). Childcare will be £100 a month. So makes sense for him to stay PT and just top hours up when I am off/holidays etc.
We will also be utilising my employers childcare vouchers.
He currently earns about £750 a month, but we have budgeted £250 a month towards baby items/preparing house for a new baby etc from 12 weeks, so we will get used to not having the spare cash before the baby arrives!
We both have cars which while neither are our dream cars, they work! Mine is a 3 door clio, and economical - DP's is older, but is a 5 door fabia, and too expensive to run! Will try and look at replacing DP's at some point - purely because as a run around, it was meant to be cheaper than mine - but it bloody well isn't!! He's only been driving since October though, so want to try and get through the first year with this car in case of any more scrapes. 
We are still entitled to CB - just - so that will help towards nappies etc. We may just scrape CTC, but probably not - we earn more than the £32k for 2 children thing that is being bandied about, but that isn't with childcare included, so until April, we won't know if we could get the £10 a week CTC. We don't get it now :( Earned £100 over the threshold last year!!!
All in all it should be manageable - my wage increases year on year for the next 5/6 until I am the top of my grade. I've just had one increase in Jan, so will get my next one while on mat leave which will help when I go back. This equates to about £80 extra a month after tax.
Worked out this baby will cost us around £200 a month initially including childcare - we are losing £250 from DP's wages, but gaining £100 in child benefit/childcare vouchers. So over all, we will be down £350 a month. I think this is ok for us. DP should be able to earn an extra £100 a month with some extra hours, and as a bonus, won't be paying tax this year (woohoo!) He may also set up a business at home, he does lots with computers, but I don't know what! But he could do something...
I think I have thought way too much about this, haven't I?! Anyway, it will be a shock, but, worth it!
Look in to the childcare vouchers with both employers btw - and check to see in April what you might be entitled to in tax credits. Use entitled to for an idea.