The only thing you can do to make it cheaper is to load lighter.
For instance, make 1oz or 7/8oz loads instead of 1.1/8oz.
And powder selection, a fast burning target powder instead of a standard speed mid-field powder like you'd use for 1.1/8oz, where you can get similar performance out of a smaller grain charge.
If you goal is to reproduce a typical 1.1/8oz factory standard load, you're pretty much SOL.
I reload shot cause I have more time then money, so if I can shave even a few cents off my bottom line, it's worth it too me in the long run.
I'll only load 1oz for myself, with the idea that if I can't crack with 1oz, I'm not going to with 1.1/8oz.
And of course, I reload shot for my GF. She doesn't shoot enough to warrant buying another gun of a smaller gauge, so I just press out some light 7/8oz for her and she is happy.