Magnetizing Metal
This is the easiest way to magnetize metal and takes about 10 seconds.
Supplies
Hammer
Metal
Compass
Finding North
Take your compass and find north. When found, put the piece of metal pointing north as well.
Magnetize!
With metal still pointing north, take your hammer and hit the north end. It should be able to pick up small screws, nails, and the like.
Finish
Treat this like any other magnet (I wiped 302 pictures off my camera), and have fun!