I buy bundles of FQs so I have similar but different colors/prints to use. I used to buy one yard but found myself in trouble more than once. Now I buy 1 1/2 yards. If there is some left - it becomes a FQ, strip, or scrap. If you see something that has a larger print that you might want to use as a focus block - get several yards so you can fussy cut that print.
As for stash - I am short on space and have 5 stacked 15 X15 3 sided cubes (thanks to a blue light special at KMart) behind one side of a set of French doors into my sewing room. No one can see it unless they go into the room and close the door. I have some divided by colors and others that I bought 3 or 4 that were designed to go together. I have a separate plastic box for FQ. All my Christmas, baby, novelty and stuff I don't think I ever want to see again are in other boxes. (I made a quilt with 18 shades of purple and I don't think I ever want to see purple again.)
Also, I use masking tape to mark the amount of fabric and the date. It is easy to remove even in the Florida heat - no sticky stuff left behind.