I don't think that what you're suggesting would make for a very effective plan; there's a lot that it doesn't cover.
That's true, several subdivisions of the plan should be created as well. Once you've got $10,000 in the account, though, I'd say that's a pretty good initial plan. The only way to divide up the entire budget is to know precisely how much each item costs - diapers, food, etc. - but it's very risky having a baby if you don't have enough in the account, anyway.
