Have you heard of a dermatograph? It's a wax (I think? at least this brand) stick wrapped around paper. They say you can use it to write on different media, but I use it as a replacement highliter for words written in newsprint. This is because normal highlighters are too thick and tend to stain the other side of the paper.
-cheap (Less than P15 or around $0.50)
-come in a variety of colors
-convenient (no need to sharpen)
-fun (I love the unrolling process)
-allows you to track usage (unlike highlighters that will run out unexpectedly)
-lighter than highlighters (you'll have to use a heavier hand)
-like a pencil: it can break unexpectedly, and you'll never be able to use the stub when it's about an inch long
-string may give out
The Lioncity Dermatograph tends to be variable in quality: some sticks are definitely better than others. I can work around some of them by using my fingernails to remove the paper if the string breaks, but it gets really annoying.
Dermatographs come in many different colors! I prefer using these two right now. Use them to highlight your text, as seen in the background.
When you can no longer highlight with it, pull the string opposite the tip of the pencil. Only pull until you have one small segment around this size.
Pull the paper segment until it rolls off. There will be another layer under that you'll have to pull in the opposite direction.
When you'll finish unrolling,you'll have exposed more of the stick to use. You'll also have this cute roll of paper which you can dispose of or use in arts and crafts or something (I suggest writing messages on it and rolling it up again to give to others).
I use a lot when I study ^^! This is after less than an hour. I finish two sticks (of two different colors) every two weeks (for just one subject).
Note: I actually thought that dermatographs WERE for highlighting. I've just recently realized that it wasn't meant for that originally.