I'm still working on ways to live a much simpler life and I'm including money in this. I have made and used homemade baby wipes in the past. There's no reason why I don't use them now. The hardest part of making them is cutting the roll of paper towels in half because I really do need sharper knives.
In the past I've just reused empty baby wipe containers, but you can use RubberMaid containers, or any type of plastice container you have around the house.
I don't know why, but for some reason Bounty are the best towels to use. Other brands are either too weak or sort of shrink when you use them. It's still cheaper than regular wipes and you can use the pretty smelling lavender baby bath that I love so much.

Homemade Baby Wipes
1/2 roll of Bounty paper towels
2 tbsp baby oil
2 tbsp baby bath
2 cups of water
Cut roll of paper towels in half, remove center cardboard; place in plastic container. In a separate bowl, gently mix liquid ingredients and pour on top of paper towels. After about an hour or so, if you use an air-tight container, you can turn it up-side down to wet all of the paper towels, or gently turn the paper towels.