My grandparents were exceedingly frugal folks who were profoundly affected by the Great Depression. They took the whole 'waste not want not' axiom very seriously. One of my least fond memories of childhood is the time my brother and I stayed overnight at grandma & grandpa's. Grandma asked what we wanted for breakfast and I said Alphabits cereal. Eager and happy to oblige, grandma proceeded to empty the remaining contents of the cereal box into our bowls. It was the bottom of the box so she tapped the bottom several time to make sure all the cereal dust/powder at the bottom found its way into the soggy milk.
Vinyl or naugahide uphosltery repairs at gramma/grampa's were accomplished with (seriously) aqua blue duct tape. Paper bags with holes in them were occasionally repaired with masking tape. There were some other incredibly cheap things they did, but I think we'll open the floor to others to discuss their observations of frugality gone amock.