Being an old Swab-by, and\trying to save that almighty Dollar, I use Duct tape to repair holes in the pockets of my jeans. I just use a piece long enough to cover both sides of the pocket, and go across the bottom, forming a" U" shaped patch that closes the hole, THEN I run a hot iron over the repair, (Cover it with a paper grocery sack or equivalent, to protect the iron from getting Duct tape or the adhesive on the hot surface of the iron)This works well, and is washable & dryer safe if low tempratures (and common sense) are used.
You can accomplish the same thing even cheaper by recycling a swimming pool chlorine container. these have airtight screw on lids, and most swimming pool service companies are happy to give them away! I would add another suggestion; use 2 buckets in tandem, this will possibly catch any escaping very fine dust and/or shavings from the first bucket. (Just a thought)
I would like to suggest that you use the chlorine tablet containers from a swimming pool service company. these are 5 gallon capacity, have an airtight screw-on lid, and the pool companies are very happy to give them away! (I've made arrangements with a local company to pick up as many of these containers as I wish, whenever I want them, for FREE) I would also offer this improvement to the i'ble, mount 2 buckets in tandem. this will let your vacuum capture all of the sawdust, or other fine dust that escapes the first bucket. just be sure to use the same 'swirling' motion as in the first bucket.
When I was in the Navy during Vietnam, we all were issued the notorious Master Black Dial padlock. we also quickly discovered that any of these locks could be opened within the time it took to untie, and remove, a 'High-topped boot, or "Boondocker", and strike the center of the knob sharply in a downward direction with the heel of the boot while holding the hasp solidly (like when it was locked onto a locker). The lock will pop open easily, and when you've finished 'borrowing' your shipmates M&M's. You could then close the lock back, and no one would be the wiser, until the owner wanted to eat his M&M's. By the way, the lock would continue to function normally after this procedure was utilized.