We've got a problem in our house with cord control. Old cords, new cords, and cords without any identifiable purpose are filling up the cupboards in the home office. In an effort to get them organized, I've scoured online and around my house for free and creative ways to keep the cords in check.
Here's some of the best, both for being free and for super easy:
1. Reuse Toilet Paper Rolls: This 2008 tip from this here website is easy enough to do. Just strengthen and beautify a toilet paper or paper towel roll with some pretty paper and you won't even be able to tell this was once meant for the bathroom.

2. Reuse Ziploc Bags: I have a bad tendency to just throw away used Ziploc bags. Instead, wash out the crumbs and use this tip from Lil Blue Boo. I also love how this allows you to collect cords for one device and keep them stored in one place. You can see Ashley's step by step organizing process on her blog.
3. Broken Hair Ties: I've got a drawer full of these. The ladies and long-haired dudes know that broken hair ties happen all too often and are seriously annoying. Instead of throwing these broken elastic bands away, tie them neatly around a cord and you've got a mini bungee.
(Images: Gregory Han / Apartment Therapy and Lil Blue Boo)

Shaw's Original Fir...
OMG shades of my home crafting history - the recycled toilet paper rolls. Now we'll be hearing about how to crochet cute little toilet paper covers. LOL
On a more serious note, depending on the paper used, it is a good idea.
I find that I have cords etc all over. I just got a new smartphone and ereader at the same time and made labels using my label maker to attach to the cord so even if not in the baggie (great idea) I know which cord belongs with what.
I keep a silver and a black permanent marker at hand just to label power and extension cords. Every extension cord is marked with its length and the power cords are marked with the name of the device it is meant to be paired with. Like Jackie I keep all my "electric" wire items sorted by types in zip bags in a bin.
#4. The little fabric bags that sheets sometimes come in. Also keeps dog hair/dust off the cords.
@ celuna
Marking extension cords with the lengths is a good idea. Thanks.