Yes, I believe many teaching and learning challenges can be solved by creating simple, low-cost resources. In my experience, I have made my own teaching aids when materials were limited, and they worked very well.

One example is creating vocabulary flashcards using paper or cutting out pictures from old magazines. I wrote keywords on one side and meanings or pictures on the other. This helped students improve their vocabulary. The problem it solved was that students had difficulty remembering new words from the textbook alone. By using flashcards, learning became more visual and engaging, and students could practice in pairs or small groups. 

Another example is to let them create a short story using those cut-off pictures and other materials that they can find.