Hi K-Roll,
I probably wouldn't just cut the fabric you bought I to scraps until you are ready to use it. Believe me, scraps happen with every project you work on. I made the mistake of cutting bigger scraps to smaller sizes. And, yes, you guessed it, I could have used that bigger scrap for something. If you check out my QB blog. I have posted photos of how I store my scraps. I believe it's in the blog post "What's going on in my Corner of QB blogland". My bigger scraps or scraps waiting to be resized are the only ones I haven't pictured. They are stored in a med size fabric bin. And, the are threatening to over flow. Lol, I really need to do something with them soon. I am pre dominantly a scrappy quilter. I also don't agree with the statement, if you cut it, your kind of out if you need the bigger piece. I've been know to patch back together, depending on the print of course. My mom always made the statement, it really won't show once it's quilted. In that same blog post I mentioned about the scraps there is a red plus sign Quilt in the heading. One of the squares in that Quilt was pieced together from smaller pieces because I was short a square for that plus sign I bet you can't find which one it is. And, that Quilt was a gift for my mother. She loves it. I've also been known to double a thin piece of fabric or stabilize a thin piece of fabric to make it more usable. It just depends on how much in love with the fabric I am or weather I think it's worth seldveging. Sometimes, we all make a bad choice in fabric quality. There are also other ways to use fabrics your not happy with. Use them in smaller projects that won't get washed a lot. Oops, I guess I'm getting off topic. Sorry, I'm usually one of those people that buy smaller size cuts. Can I suggest, that instead of quarter size cuts, you buy 1\3 yard cuts. That way, when you square up, you will most always have a minimum of 9" wide to work with. JoAnn Fabrics is not very generous with their cuts. If you have to square up fabric and you've only bought a quarter yard, sometimes, depending on how straight the fabric is, you may only have 7 or 8" wide to work with. Believe me, it will make a difference. I know it does for me.