I have stainless blades so I don't usually coat them with oil so I'll leave that to others.<br><br>I highly recommend that you get a DMT diamond stone. You can decide whether you want one just for home or a smaller one you can take with you. I am constantly impressed by how quickly they restore an edge. 've found that the finest "grit" is enough to maintain a solid edge on my blades. But you may want to get a coarser "grit" as well for initial sharpening.<br><br>The big at home stones don't fit your budget, but the smaller ones would.<br><br>Be sure to really shop around on the internet. I found my for 1/2 what my local hardware store charges.