Back To School:: Organizing Treasures

So, my plan this summer was to clean out all of the closets. We have 7 closets. I have 7 more closets to go. With a vacation coming up and school starting the first week of August, Back to School shopping is pressing and ever more present is the Back to School organization that I need.
So how does a family of 8 win the paper chase and deal with all of the memorabilia? Well, my poor deprived suffering children all have to limit their treasures to a box. They will leave this house at 18 with a suitcase, a pillow, a good recipe book and 1 file box of their lifelong treasures.

Here's how the process works at this Pretty Palace: Each kiddo is given a treasure box for their room. It's unique and about the size of a jewelry box... yes, even the boys. These boxes are for things like MP3 players, packs of gum, prized rocks and tin foil... whatever they want to keep. They can keep anything as long as I don't see it out. This makes room clean up easier when you have all of those, "What-in-the-heck do I do with THAT?!?!"... misc. items to put away.
For school papers, scout awards, trophies and all other things prized and treasured each kid has a box. I use decorative cardboard file boxes that can be found at Wal-Mart. This is my children's lifelong treasure box. They can keep whatever they wish as long as it fits in that box. Yes, that means that they have to go through it and decide what is trash and what is treasure. Hopefully with experience and wisdom by the time they're 16 most of those items will be treasure.

This little methods has allowed my kiddos to have control over their stashes and keeps me sane and organized throughout the school year... well, mostly. Alright, it's pretty organized around here but please don't come peeking around my house around dinner time because it looks like feeding time at the zoo.

How do you win the paper chase?