I think they are the same and I use both. I like yardage but also like fat quarters for variety.

If you know what pattern you will be making you need to check your cutting instruction. 1/4 yard is 9X40 and fat quarter is 18X20.

I watch the prices, too. If FQ's are much more that 1/4 yd wof, why pay the extra? I often fold the 1/4 yd cuts to the same size as FQ's and store them together (by color), since most patterns work just as well with either shape.