I have a cutting table that has 12 large drawers. Some of the drawers are for everyday tools, thread, etc, and the remainder house individual projects. It's been a life saver, I had to learn the hard way to cut my bindings and border first and then place them with the project.
I also have closets in my sewing room. So sometimes I use VERY large zip lock bags, put contents of in, and then hang them by a pants hanger in the closet. Easy to see, and doesn't take up much space.
Inside One Drawer
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Cutting Table with Lots of Storage
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