A box for each kid K-12 ... I had a professional organizer at my house (what a treat!) and she suggested this system for pictures and papers, etc. 1st year, 1-2, 2-3, 3-4, pre-K, K, 1st grade - 12th. So simple, but so brillant.
DIY Memory Box [Tutorial] : Great tips for keeping track of family memories. What are your secrets to saving important moments?