Once you have reloaded enough ammo to recover the cost of your set up, you can almost always reload cheaper than you can buy it as your only paying for componets at that point. The only thing I have found thats not cheaper to reload is Bridshot in 12 guage and 20 Guage as I can usually buy this cheaper when its Dove Season than I can reload it. Its a whole different story though when you start talking about OO-Buck, Slugs and 28 guage ammo.
You equipment doent have to cost you 400-500 to get started. I own four presses. All were bought used. The Rcbs Single Stage Press was 5 dollars at a estate sale. The Mec 600 Jr was free as the person selling it couldnt tell me if all the parts were there and it was missing a 2.00 spring. Quick trip to the gun store fixed that in about 15 seconds! I bought a Lee Pistol and Lee Rifle Press along with 12 sets of dies,2 tumblers, scales, 8 loading blocks, manual case trimmer and a enough other crap to fill a 106 qt plastic tote for 100.00 fun dollars off a neighbor. If your not in a hurry, keep your ears to the ground you can find some amazing deals on reloading equipment that needs a good dusting off and wipe down.
I cut my reloading cost buy volunteering once a month at the range for clean up day. My payment for a couple of hours of my time is Brass I seperate into what goes in the range barrels for recycling VS my 5 gallon buckets. The pay off? 20K in LC 7.62 Brass once fired, 45K in 5.56 LC Brass once fired, 6k in Winchester 12 gauge hulls once fired ect...you get the picture. This aspect reduces my cost to reload signifacantly!
I cast many of my own projectiles. About once a year that Berm at the range has to have some maintenance done to it as well. I collect a lot of lead this way. I also get it by the bucket from a local Tire Shop for minimal cost. This usually results in more lead than I know what to do with although I have to compete with fishermen who also get lead there for fishing weights and Jigs. Most of my handgun ammo, and 12 guage slugs are cast from this and this reduces my cost for practice ammo big time.
I dont buy my powder generally by the pound as its too cost prohibitive. I will buy it in the larger Kegs. It is a pretty steep price to pay up front but its usually a few bucks cheaper a pound. To make this work I have also narrowed down my powders to a few that are very flexible. Many powders that work in handguns also work well in shot guns for example. Thsi gets me down to two powders for shotgun/handgun and 2-3 for rifles.
Primers, Wads, Bullets, Sabots andother misc items I also buy in bulk. Instead fo running down to the gun store and picking it up off the shelf, I go to said guns hop owner prior to him making and order and strike a good deal for both of us. He orders what I want to buy and becuase I am going to be buying in large quanities and its a gaurenteed sale he cuts me a nice discount. I save some fun doallrs and he still makes a profit and doesnt have stuff sitting on his shelf for ever, and people like me dont come in one day and clean everything he has on the shelf leaving his other customers high and dry until the next shipment comes in. I win - he wins.
I'm veering slightly off topic, but if SHTF I'd rather have a ton of bulk ammo ready to shoot rather than the ability to reload a lesser amount.
Point well taken and its a argument that many will bring up everytime this subject arises. A factor that always fails to be mentioned, is that I can reload my 1000 rounds as I shoot it. Turning my 1000 rounds into about 4000 rounds over the course of time before tha brass fails is a force multiplier if you will. It keeps me in the game long after you have exhausted your supply of loaded ammo. I can usually get about 2-3 reloads out of my 224 TTH, 5-6 out of my 308 Winchester, at least that out of my pistol and I have shotgun hulls that have been reloaded a good dozen times. Multiply that by 1000!
Consider this too...get in a good brief fire fight, and a team of 8-10 can easily burn through 4000 rounds in a matter of 3-5 minutes! I know as I have been there and done just that before more times than I would like to remember from 2002 thru 2005 in 'Stan and Iraq. Granted semi auto fire wont expend ammo at quiet that rate, but you might be suprised at just how much you can burn through even when your defending a good position. The ability to reload the ammo you just expended after the smoke clears would truely allow you to go on long after everyone else has ran bone dry. And thats why you are a survivor and better prepared tha "that other" guy, the dead one over there, right? We are civilains not the military, although one day we may face many of the same situations, we cant just call down to supply/logistics and order a pallet of A475 on a 999 priority code! Either you got it, can make it or your hating life...