Go buy the book "What to expect when your expecting". You can get it at chapters. Also, your doctor will give you an information booklet. It has all the information you will need.
You need to register for baby classes at the hospital asap. They will teach you invaluable information.
I wouldn't say you have to save up thousands and thousands of dollars, baby's really arn't all that expensive, if you are breast feeding. Just make sure you have all the basic stuff:
-Car seat and stroller (perferably one that you can take the car seat thing out and pop it into the stroller)
-Crib
-Small portable basonette
-Saline and a nose booger sucker***
-Lots of diapers (like 500 lots)
-Zincofax and a million wipes
-Baby bath + baby soap
-Baby washcloths and towels
-Lots of recieving blankets (20 min)
-Lots of sleepers (at least 10)
-Pacifier
-Baby monitor
If she has a baby shower expect to get a ton of stuff, but I would buy the basics anyways.
Hopefully she qualifies for maternity benifits thru the government. Its basically EI, so its not very much but it will definatly help pay your bills.
Honestly, if i were in your 2 shoes, i would see if we could live with either of our parents, maybey they have room to set up a small suit for us or something. It would make things alot easier for you 2 if you also had grama and grampa there to help out. (becides saving you money)
I have a 4 month old at home, it can be pretty difficult sometimes but u love them so much its ok!
I would also say, try and find a decient car, not some beater.
Machining, Fabricating, Welding etc.