For around $100 you can build this high bed with storage clearance of either 6", 8", 12", 14" or 16" depending by what kind of cinderblock stones you use.

I used (2) 6" high cinder block stones providing 12" clearance. Perfect fit for a Banker Box!

Step 1: Buy the Supplies

Buy:

(2) 4'x8' MDF Boards and have them cut in sizes you need. The wood you choose of course is preferential.

For Queen Size 5' x 7' I had to cut 5' x 3.5'

Buy 10 Cinder block Stones for a Queen Size. (Again, depending on how you want to place the stones you may even buy more. But 10 is minimum.
Gripper! Looks like white paint but is thicker and prevents the stone from brittling off and gives any color put on top of it the true hue.

Step 2: Sketching or Drawing Up a Plan Helps Big Time

Step 3: Paint Every Surface Area With Gripper

Gripper helps the stones from not brittleing off as well as giving whatever color you paint it, it's actual hue. Red looks red on the gripper but would've been a dark crappy red without it.

Drying time is about a Day.
Then start with your color Paint

Step 4: Paint the Stones

Step 5: Cutting Corners (preference)

Place a blank Paper under your bedspring
trace the bedspring rounded corner
take paper out from underneath bedspring and tape to MDF board
use an xactro knife or a sharp object to poke holes along the line thru the paper onto the board
remove paper and connect the dots
use a saw to cut the corner off and sanding stone to round them smooth

Step 6: Paint the Board Edges

Step 7: Grip Shelf Liner Place Mats

Get the grip shelf liner and cut in pieces (1 or patchwork) to cover top of each stone also in between stones!
(It will protect the paint and also prevent sliding)
Place stones to final position

Step 8: Finishing the Frame

Put the boards on top of the stones (may require 2 People!)
Don't push or pull because it will move the place mats out of place
(if you're only one person, lay on your back in the middle of the stones and use all hands and feet lifting the board on top of the stones.)

Step 9: Adding Lights

The first lights I had used was red rope lights taped to the MDF board with clear tape. But it was too much red!

But then I found the SMD 5050 RGB LED Lights on ebay (11 feet) with 44-key remote!

what you'll need is adhesive velcro strips. (2cm for the MDF board I used)
tape the soft part around the MDF boards. Cut the strip where the boards separate.
the rough velcro part, cut in small 2" or 3" long pieces and width according to your LED strip (1cm) and tape the rough pieces to the LED strip. I taped mine every so often (6" or 10"). You could run the rough velcro along the entire strip but that would be hard cutting it lengthwise as the strip is only 1cm wide.