A few days ago I read a post on In Art Class about having tons of scrap paper and what to do with it. I thought would post my solution to having tons of scrap paper that I can't bring myself to throw out.
Stackable laundry baskets! They are a life and space saver. I bought them from walmart for about $4-$5 each. Now that's a large amount to drop at once, but I foresee these baskets lasting until I retire. Also, they can easily be slid out of the way as one.
I have a black, blue, green, purple, orange/brown, yellow, red, and multicolored/painted paper baskets. As you can see, the painted paper basket gets really full. This is where all the scrap paper goes from my Eric Carle Animal lesson. This paper does get reused in other projects a lot.
Sometimes, after a project, I have to cut down the scraps into usable pieces and recycle the itty bitty pieces. This system keeps my room clean and organized. Just like I like it!