Check your cost figures again.
Gamestalker and Frozen North and a couple of others are right on.
Add up the retail price of all the ammunition you want to have on hand. Then add up the price of a basic handloading setup (you can get a REALLY NICE setup for under $300, $200 if you shop carefully and under $100 if your really scrimp, but those prices are without compromising on convenience too much and not compromising on safety or precision at all).
By the time you load 10 to 12 boxes of ammunition, you will likely have reached the break-even point, depending on the cartridge.
My friend loads 500 S&W, which locally here cost $3 each or $60 a box of 20 or $150 per box of 50. He could pay for a really fine setup in 4 boxes ($600- $250 for the hardware, $250 for the components -really REALLY premium bullets- and afford to pay himself $25 per hour to load for himself -no withholding taxes).
Now, if he was loading .40 S&W or 9mm he might be better off to buy from whoever supplies our local police with their training ammunition.
If I were in your situation, I might be on the fence about reloading myself or not, I would try it. Go to a gun show and see if you can get a used single-stage O-frame press (extremely rare to find a bent one) of cast iron, get a decent balance beam scale with a powder trickler and a set of dies for your most expensive caliber that is fun to shoot and a couple of loading manuals. Then try out the concept. All the other necessities can be done with expedient methods (case lube can be spread with a kitchen sponge, or fingers, for example) until you decide if this is for you or not.
If you decide it is not for you, then you are out very little, you can re-sell the gear for about what it cost you and move on with your life. But, handloading is often found to be very relaxing, gives a degree of control over your shooting impossible to achieve any other way and encourages you to a deeper appreciation and understanding of your firearms and ballistics.
Good Luck. Thanks for reading. Thanks for asking our advice.
Lost Sheep
http://www.handloads.com/calc/loadingCosts.asp