When you go to File -> Print, there will be a section called "Page Handling," probably near the bottom left. Under "Page Scaling," select "Multiple Pages per Sheet." You can have the computer print more than one page of your essay or article on one side of one sheet of paper. For journal articles, I usually put two pages per sheet, then flip on the short edge of the paper (this is an option if you have an automatically duplexing printer...or you can do it by hand if not). For editing double spaced essays, I usually put 4 pages per sheet. I find that this makes it easier to take a sentence or paragraph from one page and move it to another page with just an arrow.
This method saves not only paper and ink, but also time and valuable space in your 3-ring binders.