One persons waste of money is another persons lifesaver! A baby needs:
Something to eat
Somewhere to sleep
Something to wear
Something to travel in
Somewhere to go when they're awake
Only you know your life - are you urban or rural? Do you use car/public transport/walk a lot? Are you more a go with the flow type or do you need a routine? Once you've worked that out you can shop.
Things other people don't always rate but I do:
Baby bath - look on gumtree for a stokke one, they're £££ new but cheap second hand. I still sometimes pop my 3yo in it to save water.
Baby swing - again go second hand, my two loved the fisher price one. I bought one for £20 and sold it on for £30 
Baby monitor once they're past 6 months. I want to watch tv in the evening with the living room door closed so I don't disturb them but I don't want baby screaming to the point of puking before I hear him.
I love my big travel system (uppababy vista, bought in 2014 for DC1, still going strong) but it isn't for everyone.
I also love love love my ergobaby sling.
Never needed a bottle as both DC breastfed, but DS liked a dummy until he hit 9 months.
You really really don't need bath or skin products. They should only be washed with water ideally until they start weaning and rub spag bol and prune puree in their hair.