As has been mentioned many times on this Forum, there are no right or wrong ways to collect stamps. It is a personal thing and whatever makes you happy becomes the right way for you.
As for true stamp collecting supplies, there are several ways to store your stamps. The cheapest is probably the use of glassine envelopes which can be had in quantities of 100, 500 or 1000 for a few dollars and you have the added advantage of being able to write on the envelope the catalog number, price or any other pertinent information.
Most collectors, however, prefer stock book pages that are punched to fit into standard 3-ring binders. They are available in a multitude of sizes and can accommodate anything from regular issue stamps to oversized souvenir sheets or even covers. Here's an example of Vario pages offered by Subway, which is one of the bigger mail order stamp supply outfits:
http://www.subwaystamp.com/products.asp?dept=502Don't be discouraged by the pricetag, as the $4.95 cost is for 5 pages, so they usually come out to $1 or less per page and you can store quite a few stamps on the 6, 7 and 8 row pages.
You can also get pre-made albums with nothing but rows of stock book slots to insert any stamps you so desire. They are, of course, more expensive, as it eliminates the need to buy loose leaf binders to store the material.
You can also purchase manila stock book pages that are also punched for a three ring binder. While they are less than half the price of the Varios, the disadvatange is that you have to remove the stamp each time you wish to examine it. Typically these pages are reserved for common, used stamps that require some organization but not worth the cost for the clear view pages such as the Varios.
Stamp mounts are generally used for those stamps that you wish to mount onto an album page. The stamp mount remains in place and are slit (typically in the center) in order that the stamp can be removed, if desired, to examine up close and then be returned to the mount when the collection is ready to be put away. Again, these mounts can be pricey (about 10 cents a mount) depending on the quantity and size needed, but they work well.
For the "inexpensive" stamps some resort to the old-fashioned stamp hinge. We've had several threads in the past on people who support or totally reject their use today, so it's a subjective thing, but for a pricetag of $2 for 1000 hinges, it is unquestionably the cheapest way to mount a collection, but on the flip side, the value of such stamps in the future will be greatly diminished, as most people will reject buying stamps that have been mounted with hinges, as it tends to thin the stamp and ultimately affect its resale value.
If cost is a major consideration, do check the auction sites such as
ebay, or even your local stamp dealer, as very often you can find "used" stock books at a fraction of the cost of new ones and they will still give adequate protection to your collection at a much more reasonable price.
I hope these comments are helpful.