That depends a lot on whether it's a hobby or lifestyle.
For those of us that live in the bush, hunting is definitely cheaper than shopping. It also adds more pressure to be successful because it'll be long and expensive winter if you're not. Same with fishing.
I have halibut, salmon, crab and shellfish right out my from door. Most folks would go broke trying to buy retail and live on the halibut I caught and put away last year on a subsistence longline. All it cost me was gas and hooks (and beer for the batter
).
When I lived along the Yukon River, we had salmon and freshwater species, we didn't/don't screw around sportfishing with rods and reels either. We use nets and on the river depending where you were we also used fishwheels. It's a harvest. No catch and release there. Same with hunting. You whack the first legal animal you see that can feed you for a year.
There is an initial outlay in procuring equipment (boats and snowmachines are absolutely necessary), but once you have it, it begins paying for itself.
For urban dwellers, there aren't any savings unless you have convenient access to prime hunting grounds within reasonable distances. By the time you figure in travel, meals, lodging (for you soft types), additional transportation such as air or boat, meat processing fees and extra freight to ship it home you haven't saved squat. In fact you've probably went into the hole a few hundred dollars.