I never precut until I am ready to do the project either as I change my mind too often or find that piece will go with something else better than where I had planned it. I only cut squares from pieces that are less than a fat quarter. I cut the largest block I can (like a 6 1/2 square first if I can and then gradually work down to an inch and a half. I have boxes I put the cut pieces in by size so I can go to the size I need when I want them. I love scrappy quilts and am using the leader/ender method Bonnie Hunter proposed doing and it has helped several times to have the squares already together when I needed them. Guess I have a little of my Mom in me. She could never see buying material to cut up into a quilt, she said the pioneers used the scraps of material they had to recycle into quilts along with dresses and shirts etc. I used to laugh and tell her the gals of today didn't have all those worn out dresses of cotton or outgrown ones and shirts to cut up so we had to go buy some material. A couple of my friends don't use their scraps so they give them to me and I use them for the quilt club or myself either one as we make quilts for people who lose their homes to fires and also Project Linus quilts and quilts for a local children's hospital so they all get put to good use either by me for one of the kids projects or for the fire quilts. Our little guild is always looking for material anyone doesn't want, as our members are elderly and on fixed incomes and our little treasury is non-existant. So far we have managed, but not sure how much longer we can with material getting to be pricey, so those scraps can come in mighty handy. It's amazing what quilts you can make with scraps. I have a few strips, but mostly are ones that have been given to me, I don't cut my material into strips until I need them, nor do I cut my blocks out until I am ready to start the quilt.
Just my way, but whatever works for a person is the say they should go, quilt police won't come knocking at your door, whatever way you do it and if they do, send them on down the road. Happy quilting to all. themachinelaldy