I've been playing around with the cutter too and discovered the same thing. All I waste is a wee little strip, probably less than cutting with a rotary cutter!
Originally Posted by carolaug
I fold my fat qtr in half and then in half again. I place the fabric close to the edges the folds away from the die blades. cut, than I unfold and cut the area of the triangle that is left and you will have two pieces of large fabric left. I then cut the two triangles and then the two large pieces. That will give you 8 tumblers plus a piece to make a scrappy border. Very, very little waste.