Writing used to be my hobby but I am trying to turn it into a freelance business (woohoo two articles I wrote got published!).
I just rediscovered my love for puzzles. I found an 8 puzzles in one box at Target for $12.99 (much less than paying $7-10 each!) and one of the puzzles I will frame and put up in our soon to be newly renovated dining room... at $12.99, it's much cheaper than buying a painting, so I figure it saved me money!

Also, by doing puzzles, I am a lot less bored than before, so less likely to go out and spend money.
I also love to read... I should start going to the library again, but I am so bad at brining books back on time... by the time you add up the late fees, I figured it's almost cheaper to buy them for yourself from Amazon or Ebay. Then I don't have to worry about bringing them back either! But we're trying to cut costs so I should try to go to the library again. (Unfortunately, our library isn't all that big though, so we often have to order out the books.. and that can take a long time... and I'm impatient. :P)
I also love redecorating... and shopping for house stuff... but THAT hobby can be expensive, even though I shop for bargains!
But as everyone pointed out, hobbies are to relax and enjoy, which does not always mean saving money!
-Niki