I cannot tell you how many reams of paper I have printed out or notebooks I filled with knitting patterns. It was so easy to just hit the print button anytime I found a pattern online and use the copy function of my printer before turning the knitting books back in to the library. The result was unwieldy stacks of paper stuck everywhere with "important things to keep" and a frustration of knowing I had things that I could never find. I also have the habit of copying a pattern I am currently using on a large index card to stash in my bag instead of trying to keep up with a book for letter-paper-sized pattern. In the effort of organizing and simplifying I have decided the chaos has to stop.
I am creating a knitting notebook starting with an 8"x5" binder and dividers. The binder I am using has the clear overlay on the cover which I used to hold cut outs from yarn catalogs to decorate the binder. For paper, I am using 8"x5" lined index cards hole-punched. I used one card to create a template and keep in the front pocket of the binder and also pre-punched a stack of cards for quick use later. using the cards instead of paper makes the patterns sturdier to take out, use in a project bag and reinsert later. For general notes or lists, I just use the 8"x5" looseleaf paper. The 8"x5" size is small to make it easy to tote in a knitting bag but any size binder suited to the user's purpose would do.

My binder decorated with found photos clipped from yarn catalogs and some pretty scraps of paper.
The dividers are labeled with WIP for Work in Progress, Fine, Medium or Bulky refering to yarn weight used for a project, Techniques, Project Log,and Charity. I will probably add other tabs as topics seem needed. The possibilities for arranging are endless and customizable. I was able to find dividers at my local office supply store at a reasonable price but frugal ones could be made from the index cards themselves and recycled plastic bread ties marked with a permanent pen used as tabs.
I keep a stack of the cards handy while browsing the internet for patterns. If it is a simple pattern, I hand copy it on the card or, if more complex or with a picture, I print and then cut it down to fit on the card. I attach the paper to the card with double-sided tape. My reasoning is that if I expect myself to hand-copy a pattern, it will be really important to me to collect it and I am less likely to keep patterns I will likely not use. I will save the link in my favorites in a "Knitting Patterns" folder before I will copy a lot of them. I use this technique to collect patterns from library books as well. If I know how and when I will use it, I will copy it onto a card. If it was just interesting, I will note it on an index card containing a list of knitting books and patterns. I can go check out the book again it should I need it later.
For gauge swatches, I usually use the yarn for the project and then don't cut the yarn or tie it off. When I am satisfied with the measurements, I unravel it and the yarn is recycled into the project. For swatches to practice stitches, etc that I do want to keep, I will attach to a card with a double hole punched in two places and tie the swatch to the card with scrap yarn. Swatches too large for the notebook can be kept threaded on a metal binder ring and kept with the yarn stash and supplies.

I think the main idea here is to customize what you do keep, organize it and get rid of the superfluous. To each one of us that might be something different. If patterns and notes are viewed as important tools to what we do, they become as important as the projects we use them to create. Any system that allows you to knit or craft wisely using your resources and finding enjoyment in the pursuit can be considered frugal
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A Notebook Page- I cut down an 8x11" clipping to fit onto an 8x5" format and mounted it with double-sided tape to be durable when I pulled it out to work with it.
Happy frugal knitting!