When you face your organizing options remember this: You need to decide. You need to decide how much of this thing (be it sponges, magazine subscriptions, shoes) do I need for my life work for me?
How does this work strategy for me? Well, I look at my space, time and effort. How much space do I have? How much time do I have to enjoy these things? How much effort am I willing to put into maintaining these items in this space?
Do you have a spacious pantry or a "Costco" closet? Well, then go shopping! Get that case of paper towels… you have the room! Or, do you have a galley kitchen with just enough space for a few days worth of food? This is more my situation. I shop at Costco though too. How do I manage that? I go with a friend and we split most items. The reality is that no matter what your situation, you have to acknowledge it, then construct a system that works within your reality. Dang! that sounds tough. It is and then it isn't. At first, you may feel you should buy a case of paper towels at Costco, "It's so much more economical!" Or another pair of shoes "I deserve them". That may be true. But that decision then makes it so you are tripping over that case of paper towels for a month or more while you use them up or you now have a pile of shoes on the floor of your closet so you can't even see all the great shoes you actually have. When you work within your space "reality", things fit where there is room, your home is enjoyable to live in and you have space for everything you need.
Do you have a full time job? Kids? Volunteer 3 nights a week? All these things take up a lot of time and how much is left over is precious. Make sure what you bring into your home not only makes your life better but that the time it takes to maintain these items is worth it.
Again, your time is your greatest personal asset. How will you spend it? You make that choice everyday whether you are aware or not. So why not be aware and make sure you time is spent in your best way?