Baby formula should be stored in a cool, dry place and used before the expiration date. Once prepared, formula should be consumed within two hours or stored in the refrigerator and used within 24 hours. Breast milk can be stored in a refrigerator for up to 4 days, in a freezer for 6 months, and in a deep freezer for up to 12 months. Always label the containers with the date the milk was expressed.