I have been quilting a little less that 2 years. I've made about 20 projects, and I have the scraps and short yardage left over from them. I have them sorted by color in stacked drawers made originally for scrapbooking, but that work great for this. Really small scraps that are good for nothing else, I cut into 1.5" squares for a postage stamp quilt that I hope to make someday.
I usually have all the fabric for 2 or 3 unstarted projects on hand, but I never buy a piece of fabric without a special project in mind. It would drive me crazy to have a lot on hand for no exact purpose. I would constantly feel the pressure of all that unused, unplanned-for fabric. Isn't it funny how we all have different reactions. A large stash is a comfort to so many of you, and it would be stressful for me.