Using packing tape, seal an empty shipping box. I used boxes that my scrapbook paper was shipped in so it was the perfect size.

With my boxcutter I slice the sealed box in half...

... be sure to cut through all of the layers. It looks a mess, but don't worry.

Using packing tape, seal all of the edges and affix the inside flaps into place.

If you want, add a washi tape boarder.

Add a flap of paper to the front. This is gorgeous "By the Sea" paper from Graphic 45.

Organize your papers by colour, theme or, like I have, by collection,

Now buy more paper to fill your frugal and functional paper storage :)