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Braid is much more cost effective IMO. Given braid is capable of lasting several seasons if you reverse it, the cost of mono is much higher over the same time frame.
Say for example you respool with mono every 1-2 weeks during the course of a season to ensure the integrity of your line system. It will likely cost you double that of a braid system if you're fishing heavily.
Braid is maybe $40/ season and $20/ season for 2 seasons if you flip it.
Mono would have to be $15-20 per month if you're keeping up with it. Spool depletes quickly from cutting back and I find after 4-5 trips my 15-20# mono is toast and loses most of its strength.
Posted from my iPhone/Mobile device
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