I'm glad this has been brought up about how much our time costs us. Unless I'm working, my time is free. I'm not giving up paid work to brew. Ever. I'm giving up watching a football game, sitting on my couch drinking a beer, out dirt biking, etc. (in other words, non-paying activities) in order to brew beer. If I was figuring in how much time all of my hobbies cost me based upon how much money I'd make working, I'd spend more on my hobbies than I make. What a ridiculous notion!
As far as if I've saved money homebrewing... I'm not sure. Maybe. Maybe not. I don't homebrew to save money. I brew because I love brewing, and being able to drink the fruits of my "labor" is an added bonus. I'm probably in the vicinity of 50 batches of homebrew (I didn't keep notes when I first started, so this is just an estimate). I make a lot of IPAs and other fairly expensive beers. I buy hops by the pound, grain in bulk, and I wash my yeast and reuse it about half the time (if I didn't make so many impulsive brews where I didn't have time to make a starter, I'd reuse my yeast more often). I know I save a lot of money if just considering ingredients, sanitizer, and propane... But it gets fuzzy when I try to figure in my equipment cost. I have a four tap kegerator, about ten Better Bottles, about fifteen buckets, an all-grain setup, and other various odds and ends. Everything I have I made myself... But the costs still add up.
I also started making wine this year. I have 42 gallons fermenting, which equals roughly 200 bottles. With the cost of the juice, the wine bottles, corks, labels, yeast, and additional fermenters, I'm probably into this about $800. This comes out to about $4 a bottle. This compares to a very conservative estimate of $10 a bottle if I'm buying wine from the store (and this is probably a low average). So, I'm hoping this will save me money in the long run... Though I've already got plans to start crushing my own grapes, get some oak casks, etc... So who knows what the final per bottle cost will be.
So, in the end, I don't know if I saved money. I'd like to think so, but who knows. Frankly, I don't care. I don't make beer and wine to save money. It's a hobby. I have lots of other hobbies, including motorcycles, dirt bikes, camping, guns, reloading, and working out/running. Besides running and maybe camping (working out costs me a monthly gym membership), I'm pretty sure homebrewing is my cheapest hobby anyhow.