I am a newbie as well. And my plan is to buy for projects. I have very little "extra" fabric that is not going towards something.
I scrapbook as well, and have a rather large collection of supplies there. So trying not to have too much in this area.
I have a few smaller totes. 2 in my living room with fabrics. One in my hall closet with leftovers and one in my scrapping area with other leftovers. I am learning to make some smaller items so I can use up some of the leftovers. Also, my DD wants a scrappy type quilt eventually, so we are collecting for that.
Have fun picking out new stuff.