Thinking about which items 'outlast' the early phase helps you prioritize your budget for things worth spending a bit more on.
Items with a longer useful life
A nursing pillow often becomes a support for sitting up an older baby or even an extra pillow later on. Postpartum belly bands and binders, when bought on recommendation, only serve that phase — but convertible nursing bras stay useful for months. Baby monitors (audio or video) keep working well beyond the newborn phase.
A stroller and an infant car seat/car seat, despite the higher upfront cost, last for years when well looked after — it's worth factoring in this extended use when deciding on your budget.
Items with shorter use
Newborn clothes, some bassinet models and items specific to exclusive breastfeeding tend to be used for a shorter time — for these, it may make more sense to borrow, buy secondhand (checking safety and expiration dates) or choose more affordable options.