I save down to 2" squares until there are strips and then I save down to 1 1/2".When it comes to squares and strips I don't sort them by color but I so have all of my other scraps that are less than a FQ or Qtr yd in boxes by color. I am always going back to them for scrap blocks. I guess what you save depends on how much room you have to store them or how obsessed (I should say thrifty) you are.