Try using Extra Virgin Olive Oil as a moisturizer for dry skin. It works like a dream, is ridiculously cheap, it's natural and you'll probably find it in your kitchen cupboard!
If you like, you can apply a honey facial mask before the oil. Honey is a humectant, meaning it attracts and retains moisture and is great for sensitive skin people, too!
Just splash face with warm water to open pores, smear on honey, leave on for 15-30 minutes, rinse with warm water and finish with a splash of cool water to close pores. Then moisturize with the olive oil.