Mineral spirits work the same way turpentine does, though they are not without fumes. But on the whole, mineral spirits are safer to use as a homemade version of turpentine. Mineral spirits can be purchased at a hardware store, and odorless versions are a better way to achieve your goals without inhaling fumes that may make you sick. Mineral spirits are useful for artists painting with oil paints on a canvas.
There are two types of linseed oil: regular and boiled. The boiled linseed oil is a way to thin paint and is most commonly used for painting or staining wood. It's a good option for situations where you are using oil paints. Linseed oil can also be mixed with mineral spirits to create a good painting primer and thinner that helps paint adhere better to a surface.
Water can be used to thin water-based paints, such as acrylics or latex paints. However, adding too much water can ruin the way the paint looks, so add it sparingly when you are using water as a paint thinner. Any type of paint that has a water base can be thinned with water -- but do not try this with other types of paints, such as oil paints.
Acetone is the active ingredient in nail polish remover, so for a quick DIY paint thinner, grab a bottle of nail polish remover and add a few drops to the paint. Stir it gently and add more if needed. Acetone has a strong smell, and when you use this as a paint thinner, make sure it's in a well-ventilated area. Regular acetone can be purchased at hardware stores if you would rather use that as an alternative to paint thinner or turpentine.