This type of organization is superior to the store bought bucket organizers as one has screw on lids so if you drop them, your nails, screw, etc will not go flying everywhere.
Step 1: Gather your materials
Materials are pretty easy and cheap. Get yourself a good 5 gallon bucket. Restaurants usually are a good place to get them or just pilfer one off of a job site. Peanut butter jars are next. Save them from your own home or, again, pilfer them from a recycling yard. Be sure to keep extra lids on hard (this is important). Optional: either good, study carboard or plywood of your choice. Make sure both the bucket, jars and lids are clean.
Step 2: Assembly: Shop
Fill your jars with your screws, nails, nuts, bolt, connecters, etc. If there are coming straight out of a new box from the store, tear off the label and put it inside the jar facing out so it is easy to read. This is better than writing on the jar, it makes it harder to re-use the jar for something different later on down the road.