I too am on a mission to make a dent in my fabric, but the question is do I make 'basic', large pieces, patchwork quilts which leaves me with scraps that I cannot bear to bin, or do I try to work through the scraps that I have? All are for Project Linus at the moment.
When I began quilting I bought a lot of fat quarters (thinking of variety) and now a lot of them have become 'what was I thinking' fabrics. Surprisingly, they do disappear a little into scrap quilts but this leaves a stash of strings and squares which grow faster than I can use them. Friends have begun handing theirs to me as well!!
I have a whole room with two wardrobes and drawers for storage, the scraps are in size labelled boxes and some sizes now have more than one box. Before they are cut to size they are 'stored' in an open box under my cutting table.