I like to cut my small bits into useful pieces but the only way that is successful for me is if I have a pattern in mind. I have now collected several that work well with scraps and make great quilts for grandchildren, the Youth Shelter or Community Quilts. I have a labelled bin for each of those patterns with the required size of pieces needed. As I come across smaller pieces in my "collection" or finish up a project, I cut pieces to use the fabric most efficiently and pop them into the right bin. When the bin is full enough, it is time to stitch up a scrap masterpiece.