Here's a quick and easy way to sort all your small tools into more convenient racks. It's likely you already have everything you need to make this - so it's very cheap.
The majority of tools are ferrous (i.e. magnetic) and so can be easily suspended with very small neodymium magnets.
All you will need:
►Any ferrous* tool
►Small neodymium magnets** (5mm diameter, ~3mm thickness)
►Wood strip, as long as you like
►Small wood screws
*If you want to use non-ferrous tools, you will have to install a magnet within the tool itself as well (check polarity).
**If you want to make this for bigger tools, use larger diameter magnets. HDD magnets will also work, though may crack with hard impacts.
Step 1: Drill the Holes
Mark out the holes for the magnets. I recommend placing your tools on the wood to check the spacing. Since I was making this for a set of identical tools, I just gauged the space and repeated this 4 more times. Do make sure the magnets are strong enough to hold that tool first.
Next, use a 5mm forstner bit to drill into the wood. If you do not have one, you can just use a standard 5mm drill bit but this will not work as well. Keep stopping to check the depth; the magnet must not protrude when fitted. If you go to deep, don't worry - this can be corrected later.
Step 2: Glue the Magnets
Now you can glue the magnets using hot glue or epoxy (for more strength). I recommend hot glue because you can easily correct any depth issues: simply put a bit more underneath. When dry, check they are secure by attaching the tools and taking them off.
Step 3: Mount It
Finally, use some suitable wood screws to mount your rack wherever you want, just make sure you don't split the wood.
You've now made a cheap and easy tool rack.