Will Mediation be Less Expensive than Court?

Almost always, yes.
This is a common question and of course a very important one. For most couples, mediation is less expensive than court.
In mediation without counsel at the table, much of the work is done with the assistance of one professional (the mediator) rather than with two professionals (two lawyers.). Lawyers assist before, potentially between sessions, and at the end of the process, but the bulk of the work is done with the assistance of the mediator. This often reduces costs.
Mediation is focused on planning for your separated family, not on fighting, and this saves money for both of you.
If you have children, part of the planning will be planning for your children – planning for their schedule, how to make significant decisions for them, and how to parent together in a productive, nurturing way even though you and your spouse are not together.
Part of the planning will also be financial planning – planning regarding property and planning regarding support. This helps lay the groundwork for the future, and is a plan you make together. By focusing on planning rather than fighting, you keep more resources in your family.
Keeping cost manageable at separation – whether through mediation or otherwise – requires a commitment on the part of both spouses to doing so. Your mediator will help keep the planning process focused and productive so you can both move on.