I personally always bring it with on mountain hikes for when I get chafed thighs. While any type of lip balm
is useful I like the tingly medicated feel it has. Now its best to apply before sex or masterbation, not midway through. Reason being is that you have already started to inflame the glands there. If you do apply late make sure to possibly spend a little time in the bathroom wincing.
As for you chronic masterbaters, take it a little slower! Its not a race.