A year or two ago i got into doing tagging, but i found that things got out of hand. At the moment i am using an approach where everything is in its place.
So each of my 4 external drives hold specific data, because i have a huge Plex library different sections of it live of different drives, so i have a whole 8TB HDD for movies, an another for TV shows.
The interesting drive is the 3TB drive. It has a bunch of folders organised around contexts.
For example i have a folder called school which has two sub folders, one for my Batchelor degree and one for my masters, inside those there are folders for each subject, in each subject it has each week of classes and assignments.
I have another top level folder on that drive called code, which has sub folders for each programming project underneath it.
I have a folder for invoices, under which is a folder for each year.
What i like about traditional file and folder systems. Is that it is not mutually exclusive with tags. Within invoices, some of them are tagged for finding come tax time.
If for example i just had one big folder with everything thrown in it, i could only ever use tags to search it, but if i have a file system, then much of all of the same meta data which is used in a tagging system can still be used while maintaining a data shape.