I want to make lip balm?

I want to make a nice lip balm...i wanted to just melt petroleum jelly and add coco powder to it but i heard people using vanilla and honey too....so do you think i could melt petroleum jelly and add cocoa powder, pure vanilla extract and honey to it? or is it not a good combination? and if theres anything else i can add to it to make it more moisturizing? i dont really want anything that i need to buy extra just anything i can find at home please thanks :)