Contrary to what you have been told, babies need less stuff than you think. The big companies with big advertising budgets are telling you what you need. Don't believe them! Instead trust yourself, talk to Grandma, ask Mom. Start with the basics (love, diapers, breast milk, a sleeping spot, some blankets, a few little shirts or baby gowns, a car seat) and then add on as needed. Here's what you'll need to cloth diaper, and it won't break the bank.
The Basics
Cloth diapers, 36 infant sized for birth to about 15 lbs
Cloth diapers, 24 premium sized for 15-30+ lbs
Covers, 4-6 of each size (small, medium, and perhaps large, depending on brand)
Diaper pail: this can be anything, a pail, an old detergent bucket, a Rubbermaid tall kitchen trash can, or just about any old diaper pail with a fairly large opening to get the diapers in (the Diaper Genie is too small). If you insist on soaking your diapers, make sure your pail has a locking lid for safety. Click here for more on alternative diaper pails.
Cloth wipes or old thin washcloths (much nicer for baby than those expensive disposable wipes), 2-3 dozen
The Extras
Now if you want to splurge and make your life a little easier, read on.
Diaper pail liner: seriously cuts down on scrubbing
Small tote bag: for carrying the dirties when out and about
Disposable liners: great for scooping up the poop (hey that rhymes...kinda!)
Mini-Shower: the greatest invention given to cloth diapering moms ever! You attach this handy dandy device to the water line of your toilet and spray the poop away (so much nicer than dunking)
Pins or Snappi fastener: ok, these are cheap as can be, and they offer you a snugger fit. A snugger fit is always a good thing. Don't be afraid of pins. You will be a pinning expert in one day, and you cannot stick baby (your finger will be in the way). Try it!
6-12 doublers for added absorbency: not generally needed until baby is about 15 lbs or so