It does save money on the beer if you drink a relitively high volume of beer and/or like most stock up items have the room to store it.
My hubby just started brewing a few months ago. The start up equipment was his xmas present. The basics were about $100-$150, if I recall right. since then, there have been extras, like "kegs" (repurposed soda canisters, like the ones in resturants) gear for making yeast and soon I'm sure hops seedlings.
The kind of beer he brews is the kind that costs $5.99-9.99 per six pack. When he brews, it's a couple gallons at a time. He's even done some hard cider and root beer.....neither turned out well, which means more experiments in the future.
Since he got all the stuff, he's brewed 3 or 4 batches. We have tons of it. BTW, old hops smell nasty. Your whole house will be sticky. If you hubby is anything like mine, he'll leave it all over the basement and kitchen for days.
Agravation - occupied hubby + sticky mess = ALMOST worth it