What were your scores? If you are a top student, going to community college, taking all honors classes, and then applying to transfer widely, for example to USC as well as other UCs, may be advantageous.
Transfer students have a different (some may say easier) threshold at the top UCs, so even if you were not a top student it would be advantageous IF YOU IMPROVE YOUR HABITS. You would not likely save money- you would break even. With good planning, you may end up with a better outcome. I would definitely recommend going to a CC and sitting down with the transfer office on day 1 and making a matriculation plan- and stick to it! High marks will be a requirement, and then transfer to a great situation.
When you go away to a 4-year residential school do not return home more than once every 4-6 weeks. Bond to your school!