I use a lot of polymer clay so this system doesn’t work for me but back when polymer clay hadn’t swallowed my whole crafting world… I did something similar. I used 1 and 3 cup food storage containers to hold opened packages of clay and 2 quart containers to hold the stacks of not yet opened clay I was accumulating. I kept the tools in clear plastic shoe boxes and mason jars, which I still do.
Julie has some good pointers for new-to-clay-crafting folk in her post – check for compatible storage plastics, keep the package so you have the colour reference and instructions – and I sort of aspire to her level of neatness. I’m better than I used to be!