I tried sorting my "small" stash into colors........didn't work for me. I got tired of going through several containers to pull fabrics for projects. Now I sort my stash into fabric types.......cotton, blends, polyester, denim, ect.
Usually I try to buy at least 1 yard of fabric. If it is a fabric that I will use for many projects I might buy 5 or 6 yards. I try to buy several yards of unbleached muslin when Joann's has it on sale. I use it for lining totes and redwork.
I also shop at thrift stores, yard and garage sales and flea marts for fabrics to add to my stash.
Recently I bought a bag about the size of a 10 pound potato sack full of fabric for $2. When I opened it I was amazed to find several pieces were at least 1 yard and there was 2 pieces that were just a little over 3 yards. There was also several pieces that was at least half a yard. I have several projects in mind for most of the fabric already.
I store my quilting books and magazines in a bookcase. Patterns go in clear shoe boxes.
I throw all my scraps into a large plastic container for string quilt blocks or crazy quilt blocks.