I almost never buy more than a yard of any fabric unless it's for a back. I keep larger pieces by color as noted above, and also cut some sizes of squares a la B. Hunter. Then I have a basket for "strings" (I like making string quilts) and a tote bag of selvages (I like making things with them). Have to admit, I do quite a bit of ironing when I making anything scrappy. I recently ordered a grab bag of scraps from a hand dyer, and every piece needed ironing. But they were beautiful and very useful! I love "The Big Book of Scrap Quilts," by the way.