I started reloading in 1967 when I bought my first centerfire rifle, a .30-06. I started reloading shotgun and pistols in 1970 when I bought my first shotgun and centerfire pistols. I bought most of the reloading equipment that I still use today in the '70s and '80s.
Most of my rifles, pistols, and shotguns have rarely, if ever, shot factory shells. I have pistols chambered in 9 mm, .38 spl/.357, .44 spl/mag, and .45 acp. I almost exclusively shoot my cast bullets in them. My major source of lead I dig out of the range, and the smelting cost is offset by selling the copper jackets, so my pistol bullet costs are essentially zero, unless I add a gas check to the magnum bullets which add $0.02 per bullet.
Pistol primers are $30/1000 or $0.03 ea
Powder for my standard pistols is Clays Universal at $150/8#. At an average of 5 grains/cartridge is $0.013/shell.
So my reloads for my 9 mm, .38 spl, .44 spl, and .45 acp pistols is $0.03 + 0.013 = $0.043 ea x 50/box = $2.15/box.
The additional powder for my .357 and .44 magnums is $0.05 and $0.06 + the $0.02 gas check makes them $0.07 and $0.08 ea x 50/box = .357 mag @ $3.50/box and .44 mag @ $4/box.
Several years ago I bought a Weatherby Vanguard rifle in .223. To start reloading it I only had to buy a set of RCBS dies for $35. Like most of my other reloading, I buy my components in lots of 1,000 and powder in 8# kegs.
So to load for my .223 my costs are:
Bullet, Rem 55 grain FMJBT Blems @ $119/1000 = $0.12 ea
Primer, Federal 205 SR @ $30/1000 = 0.03
Powder, Hodgen CFE 223 @ $161/8#, 27.4 gr/shot = 0.08
Case, range pickups = 0.00
Total cost/round to reload = $0.23 ea compared to Hornady 55 gr FMJBT factory loads @ $1.20 ea IF YOU CAN FIND THEM!
So factory rounds cost $0.97 each more than my reloads.
Divide the $35 cost of my RCBS .223 dies by $0.97 and it only takes 36 reloads to break even on the cost of my extra reloading equipment for this cartridge.
Over my shotgun shooting career, I've shot somewhere in the vicinity of 300,000 shells at Trap and Skeet. Figure a 40 year average of $5/box of 25 shells(12, 20, 28, and .410):
300,000/25 x $5 = $60,000
I have four Hornady 366 progressive shotshell reloaders that I bought in the '80s for less than $200 each. Even at today's cost of over $500 each, my shotshell reloaders more than paid for themselves many years ago.
Our range sells 12 and 20 gauge shotshells for $6/box of 25
My costs to reload 12 or 20 gauge shotshells are:
Shell or hull, range pickups (I have thousands of once fired AAs) = $0.00
Primer, Fiocchi 616 @ $25/1000= 0.025
Powder, 700X @ $133/8# 15.2gr/shell = 0.036
Wad, Claybuster @ $89/5000 = 0.0178
Shot, I've made my own since the '80s, lead from range scrap,
the cost of smelting is offset by selling the bullet copper jackets = 0.00
Total cost/shotshell to reload = $0.079 round up to $0.08 ea x 25/box = $2/box
Our range sells Redropped shot for $30/25# bag
So for redropped shot, $30/25# x 16 ounces/# / 1 oz/shell = $0.075 or $0.08 + 0.08 (for primer, powder, wad) = $0.16 ea x 25 = $4.00/box A savings of $2/box
Our range sells 28 ga and .410 shotshells for $9.50/box of 25
These shells use less powder and shot than 12 and 20 ga shells, so they actually cost about the same to reload, so I am still reloading them for $2/box someone buying shot could reload them for $4/box for a savings of $5.50 from the cost of factory shells.
Long reply, but the only way that reloading would not save me money would be to quit shooting.