You can also set custom padding as defaults in your $HOME/.matplotlib/matplotlib_rc
as follows. In the example below I have modified both the bottom and left out-of-the-box padding:
# The figure subplot parameters. All dimensions are a fraction of the
# figure width or height
figure.subplot.left : 0.1 #left side of the subplots of the figure
#figure.subplot.right : 0.9
figure.subplot.bottom : 0.15
...