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Assuming you're talking about an automatic, most automatics idle slightly lower in neutral than they do in drive. So yes, you'll be using less gas than you would by holding the brake down. Probably nothing too noticeable, but it's better than nothing.
I always put it in neutral in automatics because my first car developed a pretty big rattle when it was stopped in drive, but it went away when I put it in neutral, so it's just a habit now.
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