A new knife for Rosh Hashanah: Understanding an enigmatic tradition

There is an ancient tradition to buy a new, sharpened knife - in honor of Rosh Hashana.

New Year and knives? What's the connection (or shaychus, as you'd say in Yiddish)?

Chassidic tradition says that a new or sharpened knife is a segulah (spiritually beneficial act) for a prosperous year. Why?

During Rosh Hashanah prayers, we tell Hashem, “hachotech chayim l’chol chai" - He "cuts" life to every living person.
Reb Yitzchok Eizik of Zidichoiv (1805-1873) explains that the last letters of each of the words, “poseach es yodecha,” open your hands to receive His blessings of sustenance, spells out the word “chotach” (ches, tof, chof) which means to cut.
This idea also connects the knife to our livelihoods.

Which knife will you get yourself?

‍Here's to a prosperous new year for you and the entire Jewish people!