SORT: first go through each of these items and make sure your colours haven't expired. Are ink pads still juicy? Are lids still intact? Do paints still mix together when shaken? Are your chalks still intact enough to use? Sort all of your paper cosmetics into TOSS, KEEP, SELL, DONATE
PURGE: Throw out the toss items. Bag up and assign a price and your initials to the SELL pile, and put them immediately in your garage sale box. Arrange for pick-up or drop-off of the DONATE pile.
ASSIGN: Sort your KEEP pile into categories that make sense to you.
CONTAINERIZE: Inks last longest when stored horizontally, upside down (that's why Stampin' Up ink pads flip that way!) on a shelf, in a drawer, or maybe a cassette tape holder? Paints could be stacked on a narrow shelf, on a tiered rack, in spice racks, etc. Embossing powders, chalks and other cosmetics could be stored in well-labeled drawers.
EQUALIZE: take a few minutes at the end of each scrapping session, when you return from a crop, or return from a shopping trip to put your paper cosmetics away where they belong.