I am bad about the pressing part, leaving that until I am ready to use something. The rest is about what I do. I cut the smaller scraps into useful sizes and store them in the plastic flip top containers my dog's treat and several other things come in. I have found that these precuts are much more likely to get used than scraps stored in a bin are. I have already posted my marvelous new color sorted storage system my DH set up for me. Having it organized with the fabrics light protected makes a huge diffference.