Whenever I'm cutting out fabric for my rag quilts or whatever, I always cut the leftovers into 2, 2.5, and 3 inch strips. Then I roll them up and use red rubber bands for 2in. , blue for 2.5 and etc. that way I always have binding strips cut or strips for making nine patches or whatever comes along.
I also cut 5.5 in squares to have on hand , as that is the size I usually use for my rag quilts.