It's been a little while since I weaned my last child, but I would like to put a plug in here for breastfeeding. Yes, it does save money (ALOT!!!), but there are so many other positive reasons to breastfeed as well. According to the website http://www.womenshealth.gov/breastfeeding/benefits/ formula can cost between $1,160 and $3,915 per year. That can be a significant chunk of anyone's budget!
As a stay at home mom, I have had the privelage of being able to exclusively breastfeed two of my kids. My oldest started out breastfeeding, but mostly had formula as she got older. Honestly, I did find breastfeeding to be more convenient and time saving than bottle feeding. With breastfeeding, the milk is always ready, at the right temperature, and there are no bottles to wash afterwards.
I think the benefits to my children were notable as well. I did notice a difference in the health of my two younger children who were exclusively breastfed. My oldest child was sick more often as a baby, while my two younger children rarely had any health issues at all. Breastmilk provides antibodies to the infants to strengthen their immune systems. That is one thing formula cannot provide. Statistics show that breastfed babies are generally healthier as infants, but later in life as well. The health benefits don't apply just to baby, either. There are additional health benefits to moms as well, such as a lowered health risk of diabetes, breast cancer, ovarian cancer, and postpartum depression. Better health equals less trips to the doctor equals less money spent. I think, however, the best benefit I experienced with breastfeeding was the bond that I shared with all of my children. For even more information about how breastfeeding can benefit your family, check out http://www.babycenter.com/0_how-breastfeeding-benefits-you-and-your-baby_8910.bc