Keep razor usable longer

I usually buy cheap razors like the one in the picture below. However because they are so cheap, they only last a couple uses a piece before becoming pretty much useless and I have to use a new one.

I've tried using my older, less sharp razors to remove the majority of the hair and then get the remaining stubble that it leaves with a newer, sharp one which helps a little, but my razors are still going dull too fast.

What else can I do to keep my razors sharper for a longer period of time?

Here's a list of things to do to insure that you get the most out of your razors:

1. Clean out the hair and other gunk right after you use it. This will help prevent corrosion and build up of material on the blades. You can do so by running it under some water, making sure to aim the water down both sides and up the blades, and mixing in some small taps against the side of the sink to try and get out as much as you can. As Sompuperoo commented, shaving everyday can help because longer hair is harder to get out of the razor than stubble.

2. Dry it off well - This is probably the most important thing you can do to lengthen the length of a razor. Wet environments make the razor last a lot shorter than dry ones because it also corrodes the blade. You can dry it off pretty well with a towel, just make sure to run the razor in the reverse direction as you shave and do it well so it's completely dry.

3. Keep it protected. There are a couple ways to do this:

   • Put the plastic cover back on it. Simply put the little plastic cover that comes with the razor back on the blade after you've dried it of the razor. It helps keep it protected from particles in the air and a little bit more dry than it otherwise would be. Make sure the area in which it's stored is relatively dry (not humid) as that helps it corrode faster. It's easy to do this when traveling as well as opposed to the below method.
   • Keep it submerged in a protective liquid between uses. The trick is to simply keep the razor submerged in the liquid you use between your shaves. Only use one of the following or something very similar - keeping it submerged in water or something like that is the opposite of what we're trying to do.
     • Rubbing alcohol dissipates the water, encourages drying, and sanitizes the razor for an extra benefit (especially if you are prone to acne problems).
     • Mineral oil works well and helps your skin when you use it as well. Grape seed or Almond oil also work
     • Baby oil and other types can also help, though perhaps not as well. I haven't done tests to compare other oils.
     • Dip it in alcohol then keep it submerged in oil. Some people do this to clean the blade then keep it protected in the oil of their choice.

4. Use denim jeans to hone it. Even after doing all of the above, the razor eventually gets dull even though there is a good portion of the blade left. Simply run the razor in the reverse direction of shaving up a pant leg of the jeans a dozen to twenty times or so. This will hone the blade so that you can continue to use the razor past its designed lifespan. Shokhet commented suggesting that a leather strop or a leather belt can replace jeans if you don't have any with you.