OK, I must spill the beans. I am NOT one of those moms who saves many or all of the wonderful pictures or projects that her children create during the school year or otherwise. I edit things constantly; I do not save very much; I throw out and recycle things and each of my children is allowed just one bin to save all worthy papers, artwork, report cards, and other mementos. One box in total, not per year. All they got is one box each.
Do I feel guilty? No. Why am I telling you? Because I highly recommend it.
You do not need to be as ruthless as me. However, before the school year begins and the creative and not so creative papers avalanche into your home, establish systems to manage all kid-related paperwork. Make your systems clear to your spouse, care takers, and your kiddies.
Some paper managing systems that I use include:
1. Provide a plastic envelope to each kid for his or her graded work to return to you for review and signatures. Teach your kids to compartmentalize early on. It is not easy for them to pick up these routines, but be consistent. As soon as they get some graded work back from a teacher, tell them to file it in the envelope.

2. When kids come home, get them in the habit of depositing school notices, the envelope with graded work, and any other papers requiring your attention into an in-tray or some other container. It will then be your responsibility to manage the contents and maintain order.
3. In my kids’ school, when they return signed homework or tests back to the teacher, the teacher usually holds on to them until the end of term. I LIKE that. Less paper for you to save. However, that might not be the case with your kids’ school. Consider dedicating an accordion file or a binder per child to save graded work. There is no reason for them to lug it around in their backpacks. Save those graded items until the end of term, then recycle them with the exception of the very special projects.

4. Display kids’ special work or achievements, but in moderation. My girls have a bulletin board in their bedroom, where they can pin some lovely photos, certificates, or pictures they drew. Also, in my office at work, I have a small wall with my kids’ notes to me and their art. On the rare occasion that they come to visit, they love to see their work. Do not plaster your home with kids’ work. Instead, have dedicated areas for them to do so.
5. Those special items that you and/or your child decide to save should be stored in a bin. As I mentioned before, I have one for each child. That’s it. If and when it gets too full, the kid and I will sit down and sift through what there is and edit.

The organizing lessons here are that neither you nor your kids can or should keep everything. You can only save as much as fits into a FIXED space or container. Teach your kids to hold onto special memories and experiences, not things.