I'm sure I am not alone to say that I have TONS of paper scraps and they used to totally overwhelm me…AND my home! Someone shared with me how they stored their scraps (it was quite a few years ago so I can't even remember who it was to give them the credit) and I wanted to pass along.
Get one of those folding crates that you can pick up at an office supply store and fill it with your favorite sectioned organizer. I have 5 different ones in mine, one for each of our color families and then one for all my "neutral"colors. I have a label for each color and all my scraps go into this crate. I only keep full size sheets of card stock in my paper racks.
I was cutting paper for one of my upcoming classes tonight and I was able to use a lot of these scraps…this saves me time and money!! Also, when I go on retreats, my paper is all set to go; I just wheel it out!