The one thing I will always splurge on? A $15 tube of Lansinoh pure grade lanolin used by breastfeeding mothers on sore nipples. It is absolutely the best stuff for dry/chapped lips. Someone clued me in to this 20+ years ago, and I always make sure I have some at home, in my purse, and in my car. I always put some on at bedtime (which has become interesting, because my dog really likes the smell - yea, it’s from sheep so it gets his attention!). When D moved out to CA, where it is very dry, I finally convinced her to use it because she gets very dry lips. I’ve probably tried a dozen other lip products and have not liked any near as much as the Lansinoh. Sometimes I get real dry spots on the stop of my had between my thumb and forefinger - I’ll put a dab of Lansinoh on it and it’s gone in a day. The only problem is that, in the winter time, the product is much harder in the tube; in warmer weather, it softens up and is easier to get out.
But most people consider $15 to be a lot of money for a tube of lip product that’s not makeup.