As unorthodox as that may sound - time consuming hobbies really are a good way to save money. Just as anonymous said, "you[sic] are not out spending it on other things."
Obviously the hobby needs to be scrutinized. When I used to crash my electric R/C helicopter or drive my gas powered T-Maxx around at 45+mph ... I tend to break something when it careens into rocks, trees, etc. Not exactly as "cost saving" hobby. But sitting on your couch all day playing Halo? $0 essentially (unless you're ordering pizza all day to complement it).

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buy a wii/ps3/x360
that is my tip...i found that while video game consoles can be relatively expensive, if u look at them as an investment, then they are totally worth it...once u buy them, u have them forever...and most gamers can tell u, that u can actually save a lot of money by playing ur games bc u are not out spending it on other things...
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