Crafting is not that bad if you know what you are doing and how well you are doing it.
First, start out with Basic Filters. Components are now useless and TT food, but these are quite cheap to make.
Make sure you have enough stuff for a lot of attempts (like 1000+), else you will need some luck.
Do
not attempt to craft something if your CoS (Chance of Success) is under
Excellent (which is acquired at blueprint QR around 30 with no skills) - else you will feel the pain
-> of course, this does not apply to Basic Filters if you are just starting...
Don't expect to make money from crafting in the beginning unless you are somewhat lucky. You will need skills to maximize your chances.
However, you will not lose much if you keep making cheap stuff and if you follow those tips.
EDIT : I'd like to add something else. Your trading skills come into play as well if you are crafting for profit. Buy your materials as cheap as possible (without ripping the seller off )
EDIT 2 : Please correct me if anything is wrong