Here's my solution. This notebook is made from and bound with recycled materials. The cardboard covers and scratch paper are being given a new life, and staying out of the trash while I am using less paper.
Making one of these notebooks takes about 45 minutes. I usually make one while on the phone each night, as you can still concentrate on other things while making one. The composition books that this will be replacing cost only a dollar or two, so this is more about recycling rather than saving vast amounts of money. As an added plus, you can get some pretty cool designs of your covers, depending on the boxes you use, or you can have the plain side out and decorate it yourself.