I highly recommend Milk of Magnesia as well. I have been experimenting with it over the last few days, and it works good. It's only a temporary fix and lasts about five hours for me, but it is very easy to apply, it's cheap, and absorbs oil/cuts shine significantly.
If you want to try it, get original (non-flavored, white) Milk of Magnesia. Shake the bottle REALLY well, and then using only the little bit on the inside of the cap, apply to your face with a cotton ball. A little goes a long way; I've been doing it this way and seem to be avoiding the unpleasant white streaks I have heard so much about.
As a guy, I can't bring myself to wear makeup (but I have no problem with guys that do) and this is about as close as I will ever get to doing so. I have light tan/white skin and it only shows as a very,very faint whitish color. It's really not even noticeable if you apply it correctly.
I have done this both when my face was clean and after a workout, and it seems to work well both times. It is quite drying though, so use sparingly.
This works well as a quick fix for if you're going out to dinner/on a date, or just need to not be shiny for a few hours.
Edited by CBIOT13, 12 May 2013 - 11:19 AM.