For me it's usually 4 or 5 before I get to a "final" print that is close to acceptable. First is a general test strip. I work with two grades of paper (only graded in this case) with half a sheet to cover each of the two halves of the image. A general test strip is done, with the two halves developed together. Exposure increments are usually 3 to 5 seconds, 3 being the preferred time. These are then compared side-by-side to see which one has the best contrast and overall "feel" and "atmosphere."
If necessary, this step might also be repeated with a different development time. Although I usually use 2' as the optimum development time, 3' is occasionally necessary. This step determines that.
From that, I then zero in on the contrast (I only use three grades of paper -- S, N, and H for J&C's Museum paper) and what appears to be the best exposure and the right development time. I then make a FULL print using three exposures with the indicated one and one exposure unit on each side of that.
That one is then developed and studied under room light to nail down the final exposure. At this point, we have the contrast and exposure to within a couple of seconds. A full print is now done with what I think is the correct exposure.
From this print (the third or maybe fourth sheet of paper), I can look at dodging and burning issues and to see how all the tones relate to one another. The next 2, 3, or 4 prints will nail down any printing manipulations needed.
Once all that is finalized, I complete my "print recipe" and make three more "perfect" prints. Those final four perfect prints are then toned, washed, etc.
By the time I finalize that perfect print, I will probably have gone through 5 or 6 sheets of paper, on average. At the end of the day, though, I have four perfect prints, so it's well worth the "waste."
The main thing is to be methodical, in that you have a system and follow it closely to get to the best possible final image. Working methodically and intelligently will ultimately save paper, even if it seems like you're wasting it at the time. If I use 9 or 10 sheets of paper, but have four exhibition-quality prints at the end of the day, then it's all money and time well spent!