We all know the problem, I'm sure. You've got a few dozen [insert name of thingybob here], and nowhere to put them... and those fancy racks are so expensive...
Well, not all of them. A few months back, I bought a couple of these, for just under 15 quid + the inevitable Eurotax (VAT) (click the image to go to Farnell's website, where I found them)

Basically, a 44-drawer wall-mounting (or free-standing, if you want to take the risk) unit. I have electronic components in mine at the moment, but they'll easily hold end mills, lathe tools, or small bits of metal. Each (small) drawer is about 5.25" long, 2" wide & 1.25" deep internally. If you buy the dividers (link on the product page), you can subdivide each draw into strangely irregular sizes (up to 4 compartments per drawer - small drawers only).
I plan to buy a couple more in the near future for some of my milling tools (which are starting to spread out like spilt milk), any unused drawers can hold nuts/bolts... so if anyone local to me fancies saving a couple of quid, we can probably get the price down to the 5+ level quite easily.