I like to save money by re-sharpening my Gillette Mach 3 blades by stropping them against some blue jeans. This gets them plenty sharp. However, once the lubricated strip on them wears away, they are too close to my face and begin to give me cuts. I don't want to have to keep spending money on new blades, so I figured this trick out to replace just the lubricated strip part and effectively keep the blades at a safe distance from my skin. Should now be able to keep using these for a very long time.
Cut away the old (likely disintegrated) strip from the blade using a knife. Get a waterproof bandaid and cut 4 or 5 thin strips from the sticky part and layer them to make a new strip. Use the smooth-type bandage; not flexible fabric. Then sharpen by stropping on blue jeans. Voila! Shaves just like new. Blow dry after shaving to prevent rust.