I think dehydrated raw is significantly more expensive than doing it yourself, but it's certainly a good option for when you just don't have the time or energy to invest in calculating a nutritionally balanced diet.
Not sure what the cost of living is like in your region, but the cost of meat for me here can be a bit high. I seldom buy in bulk, though I would save about 20 ~ 40% of grocery store prices by doing so. My dogs don't tolerate beef very well, so that puts one of the more common sale-item meats out of the running. We do a lot of chicken, turkey, and whole fish (sardines, anchovies, pike mackerel, but few things much larger).
A pre-made brand of frozen raw that I like quite a bit is Primal. If we fed 100% Primal Raw, the Basenji would probably go through almost 3 of the 4-pound bags a month, with an occasional chicken wing or turkey neck or some other raw meaty bone instead (according to Primal's feeding calculator). I'd estimate that cost in food alone to be about $50 ~ $60 a month (depending on the formula you purchase).
As it is, my dogs get a LOT of variety in their diet, including kibble, grocery-store bought raw meat, pre-made raw formulas, dehydrated raw, some home-cooked recipes and supplements… I tracked my finances last year and found I was spending about $80/month for our two dogs (Basenji and Shiba, so comparable sizes) with this feeding regimen. I'm in school too, so I cut some corners for the sake of convenience (i.e. kibble). But once we all got used to feeding this way, it's been quite a pleasure.
I think carefully grinding up bones is okay, but then you would lose some of the dental benefits of feeding raw bones. You would know best how your dog chews. Neither of my dogs are hard "chompers," but they had to get adjusted to eating raw bones. My B is a fairly delicate chewer -- though when we first transitioned, she was so eager about eating raw meaty bones that I don't think she chewed thoroughly enough and consequently barfed up her undigested meal shortly afterward. Yuck. But now she takes to it just fine. She prefers poultry bones which overall are softer, and gives up quickly on bones that she finds too hard. At least she knows how to self-regulate.