Do you save wrappings, ties, and specialty packaging from things that you purchase? The lovely grosgrain ribbon tied around the bundle of towels will be perfect on either a hand-made card, scrapbook page, sewing project, or even to wrap a gift. I will use my special ribbon iron (ok, it's an old drugstore flat iron for straightening hair) to get it back to un-crinkled goodness. There was a ton of ribbon and that just makes the value of the towels even better!
I also save pretty boxes (like from the fat-quarter gifts sets from Connecting Threads), zippered plastic bags (like the ones pillow cases come in) or even the card board from scrapbook paper sets (hey, I made an entire album from that!). I only save what I know I can use and I limit the quantities so I don't become too much of a hoarder!
"Waste not, want not" - that's what I always say!