Toothpaste is a great alternative to spackling if you have a hole in your wall smaller than 1/4 inch. Try to find a toothpaste close to the color of the wall, then squeeze the paste into the hole and wipe off the excess with a putty knife or playing card. You may need to do a second coat, as toothpaste tends to shrink as it dries.
Cost: $3-$5 for tube of toothpaste
Savings: $15 on spackling
For more money-saving tips, visit thisoldhouse.com