3-IN-ONE Oil: A much cheaper version of WD-40, this should be in everyone's toolbox. Good for removing rust from bicycle chains or cleaning and lubricating the rails of a sliding glass door. I first saw my dad use it to take the squeak out of our laundry room doors by adding a drop or two to the hinges. Great stuff.
This Old House 28 Reader Tips That Save Time and Money | http://www.thisoldhouse.com/toh/m/photos/0,,20403851_20813811,00.html | "Tip #28 Here in south Florida, rusty tools are a big problem. So every time I receive a package that contains those little silica-gel packets, I place them in toolbox drawers and power-tool cases, where they absorb moisture and help keep my tools rust-free.—Phil Houghton, Cape Coral, FL"
Because chalk is great at absorbing moisture, a few well-placed sticks can help prevent metal tools from rusting. Slip a bit of chalk into your toolbox or hardware storage boxes to keep moisture and rust out.