The amount of paper that comes into this house is outrageous.
While filing cabinets are pretty essential for keeping up with bills and important documents, sometimes you need just a few "hot files" at your fingertips. This hanging file bin is by my desk and houses folders for the weekly school newsletter, bills to pay, and a few other things I want to have handy but not on my desk.
A cubby for each kid. The papers they want to keep have to fit in these. When they get too full, they get purged. Looks like one is due!
By the way, I also have a shoebox sized plastic bin WITH LID for each kiddo. They put their "treasures" in it (aka: annoyed McDonald's toys and trinkets from friends). The lid must snap on it. When it's full, something must go. It has helped immensely to control the little trinket population in our house.