Mother-home economist Penning has written this book for the first-time-arounder and no doubt there are enough frugal suggestions to justify $8.95 -- with the helpful side-effect that she is also very safety-conscious throughout. She skimps wisely on the layette -- and then goes on to discuss clothes for later on (even second hand), sizes, food, environmental necessities (the crib, etc.) or extras, medical costs (certainly not geared to the large cities), toys, laundry, traveling, down to insurance and wills. But how can she say that the price of disposable diapers has only increased 1/5 of 1 percent in five years when they've gone up 25 in the last two, and her penny-not-so-wise savings suggestions include writing a postcard instead of a letter for a one cent difference? Throughout, economy often means doing it yourself (running up your own curtains or making your own birth announcements a la Redbook) and time and energy are not a consideration.