While I buy old discontinued Rebel baits, the thing that has saved me more money than anything is this; as I fish from year to year I know exactly what I like to fish and what works for me. Yes, I still buy some things that strike my fancy but the simplification of bait selection has saved me hundreds of dollars a year.
I also now take care of my equipment on a much more regular schedule. I have reels that are over 20 years old that are in excellent working condition. I do have many newer reels but If I have a problem my back-ups are more than adequate.
The last thing I want to share is this: I tend to fun fish more and more and simply having fun, taking In the sights and sounds of nature, and never taking for granted the time I get to spend on the water, well, you can't "buy" that.