When I purchase my fabric, I wash, iron, fold and store by color. I have 3 stacks for each color (light, med, and dark). I cut what I need for a particular project, return anything larger than a FQ to the shelf, and as I make my blocks the bits left over are tossed into a box under my cutting table. From time to time (it is now time) I go through the box and cut strips and squares for my scrap quilts.