I have always struggled with how to store my pocket chart materials. Recently I found a solution that works for my Kindergarten friends. I use nylon pencil bags for separating materials (making words, sorts, etc). I found my nylon pencil bags at Walmart for 97 cents each. I have also seen them at the dollar store.
Of course the nylon pencil bags don't work if you are writing out poems on sentence strips. I haven't found a good way for storing those yet. I found this wonderful hanging storage unit at IKEA. If I remember correctly it cost 6 or 7 dollars.
It easily holds the nylon pencil bags and any reading sticks the students might like to use. I picked up silver star reading sticks from the in the party section at Walmart.