I haven't read all the posts and hope not to repeat everything here. I also want to add my two cents.
Our daughter is now 5 and so far I haven't spent a single month 500 euros (unless you count the daycare).
In the first months, I barely spent the child benefit. You also get a lot of things for free. Nothing for food – she was exclusively breastfed. I used the original Pampers diapers for the first 4 months, until I had to borrow the Rossmann diapers from a friend while out and about, which in my opinion were better than the Pampers and of course cheaper.
The furniture (cabinets) is from Ikea Stuva, totally genius, the child grows – the furniture grows along. So I was able to continue adding and enlarging everything even after 4 years as needed. Only the bed (a Roba baby bed) had to be replaced due to size.
As for vacations, we fly about 2-3 times a year. For the first 2 years, the child only pays taxes and insurance for the flight; you hardly get a better deal with a child. In all the hotels we've stayed in so far, the child didn't have to pay anything until age 6 (1 year left). Next year it will then get correspondingly more expensive.
So it probably always depends on your expectations. Or let's say, better to calculate generously and have something left over in the end.
Although we never calculated. No matter what it would cost, my child comes above everything for me. Screw the house.. (Sorry ops: ops)