Beeswax paste has a variety of uses. As a wood finish, it's simple to apply, easily reapplied when necessary, and food safe. It's great for lubricating screw threads before driving them into pilot holes – especially the tiny screws for guitar tuners and string trees. It's also a good rust inhibitor for hand tools.
Beeswax paste is also very easy to make. You'll need beeswax, which you may be able to find at a farmers market or natural foods store, and mineral oil. You can buy mineral oil from any pharmacy but it's often a much better value if purchased from a farm supply store. The catch is that you'll have to buy a lot more. I bought a 3.78l jug from a farm supplier for about $35 CAD when my local pharmacy was selling 250ml for $13, but that jug is probably a lifetime supply. Good thing it doesn't spoil.