As a candle is a tool, it is preferable to consecrate it as such. You can do a simple little ritual of your own or within your particular tradition of the craft. The purpose is to charge the candle with power, and charge and seal the magical tool with your will. If you are going to "dress" the candle with corresponding oils, you can consecrate, dress, charge and carve your candle all within the same steps. It's not simply enough to mindlessly say the words; you need to really focus on your goal mentally. Intent is always of utmost importance. If you are a solitary practitioner, feel free to individualize the consecration and dressing phase of charging your candles. If like me, you have a dish of salt, water, and smoldering incense on the altar at all times, you can use these elements to cleanse the candle and charge it.
One important word about carving on candles, some sources suggest that you can heat the tip of your athame to carve the wax. I disagree, and would suggest sharp small easy to handle pushpin tacks, or a long nail are better choices for this than a beloved ritual tool! It is easier to carve if you heat the tool you are using in a flame, but be careful of burns! For anointing, the proper way to dress a candle is to start at the middle (center) and rub the oil towards the wick, then to start at the middle and rub the oil down towards the base. My only contention with this well known method of candle "dressing" is to first of THINK of the energy. In most cases, this is indeed the correct way to dress a candle. Most of us are intending to send energy OUT like a beacon to someone in need of a healing, banishing, or attraction to someone or something who is yet unknown to us. However, in my own practice with money candles, my intent is to draw more of that energy IN. When I mentally visualize what I want to do with a candle, I have at times switched the process around and started at the wick, drawing the oil to the middle of the candle and then going to the bottom and anointing from the bottom to the middle.
While this is my own particular practice and my own particular style, I believe it's important to know mentally what you are hoping to accomplish with the will and intent...do you want that energy sent out, or do you want to bring something in? It's a logical question, and quite often when candle magick I have energy drawing in on one set of candles and energy going out with another set of candles. For me, it's a system of balance. I usually oil the candle all around the sides with either the "OUT" or the "IN" method of candle anointing.