you need to get a sheep, make your own yarn and take up knitting. unless you have to trade it in for the newer model.
A few sheep can mean self-reproducing/expanding collection of sheep... Assuming you buy the right ones to start with. Having a half dozen rams and nothing else in the collection is probably going to be problematic in a few ways.
Could also subsidize the hobby by renting the collection out as a natural lawn mowing and fertilization service to the neighbours! However I fear my landlord might object to this hobby, given that they said some silly thing about no pets.
But for a more on topic viewpoint: I find my biggest money saving decision has been to just set a budget, and work within it. At least if I manage to actually stay inside said budget. [Oddly enough most of my recent over-budget adventures actually came out of my girlfriend prompting me after spotting some nice deals on cameras she liked the look of... She probably wouldn't be happy if I ever told her which other budget I took the extra cash out of, given how often she 'hints' at the idea of a ring...] I avoid trying to 'stretch' my photo-dollars, and instead focus on buying decent gear and materials suited for what I want to do. And if I don't have the money at the time for all the film and paper I might
want to use, then I just don't use it.
If my main goal is to explore
photography then I would much rather work with film and chemistry I can rely on to be consistent rather than roll the dice on trying to cut corners on the price of consumables. [This of course is not true if I work on a project where the goal is to explore alternatives or chemistry. For the last while I've been toying with cyanotypes, which so far have been pretty consistent failures. But I'm not overly worried over that, because they have been worked on with a very limited budget overall that hasn't negatively impacted the rest of my photo work. At some point I might eventually cut development costs after experimenting with making my own developers, but that would come out of a project to learn more about the chemistry of development itself, rather than coming out of a goal of reducing costs.]
For me, photography is very much a sideline thing, rather than a dedicated income source. As such I keep the bits of photo related income strictly within the photo budget.