Your life will be different because going anywhere and doing anything will involve a lot of planning. Also, your sleep patterns will change, and your life will be happily complicated.
If you are going to formula feed, it is expensive. Expect to pay about $250 a month in formula alone. Then add the cost of diapers, wipes and accessories.
You will experience definite lifestyle changes when you have a child, but they are all worth it. Before you plan anything, you will happily sacrifice for your child's interests.