I have used a system I saw in a magazine years ago. I fold all fabric selvage to selvage long wise. Fold again center fold to selvage and have a long strip about roughly 10" wide.
1) If fabric is 1 or more yards, fold strip into an 18" accordion pleated ( back& forth on itself) pile. That way you know at a glance how much yardage there is. . . Each fold at one end of the pile = a yard. These can be stored flat on shelves or folded in half and fit into the 12" cubes.
2) if more than 1/2 but less than 1 yrd, I accordion pleat fold into a 9" pile. I fold this pile parallel to selvage into a 9 x 6" pile. These can be stored in those little plastic baskets from the dollar store.
3) less than 1/2 yrd and FQs are folded into roughly 6 x 4" pieces and stored in shoe boxes.
I stand shoe boxes on end and lay the baskets on their side. Then put the fabric in with fold facing out and pile them up till basket/box is filled.
I find this takes less room, is easy to find fabric and requires only an investment of a reasonable amount of money. I am away from home or would include a picture to clarify.
I do my folding on my cutting mat and use these lines to measure rather than a ruler. I may place a ruler on fab to get a sharp fold but not to measure.