Currently, my family has band-aids in the kitchen, various ointments throughout the house, and no central place for all things first-aid related. Our first-aid supplies are not organized at all. We don’t have a kit and we don’t even have a proper box for storage.
I think that it’s a good idea not to wait until you have a cut or scrap to organize your first-aid kit (which is what has happened recently to me). Organize it now and save yourself a lot of frustration when you really need to find a band-aid or some hydrogen peroxide.
You can opt for the pre-packaged solution or you can simply gather all of your supplies and place them into a childproof cabinet or storage space. Regardless of what you decide, make sure all of your supplies are in good condition and be sure to check the expiration dates. A couple months ago, Unclutterer featured a post on clearing clutter from your medicine chest. That post can give you pointers on what to keep, what to throw away, and how to properly dispose of old medications. (Erin wanted me to remind you NOT to flush old medications down the toilet!)
Once you have all of your items ready, make sure to store the first-aid kit in an area where it is easy for adults to access but out of reach of children. Don’t store it in a place where it’s too difficult for you to get to it. When you have a cut or burn you will want semi-easy access to your kit.