Remove stripped screws
Try this tip for extracting screws with stripped heads. Mount a cut-off wheel in a rotary tool and grind the wheel against a piece of scrap metal to reduce the circumference. Make it small enough to cut into the screwhead without slicing into the wood surrounding the screw. Now grind a slot in the screwhead at an angle to the original slot, insert your screwdriver and gingerly unscrew that battered fastener.
A place for every bit
This rotary-bit organiser may just inspire a renaissance of rotary tool use in your shop. Friction-fit a piece of 20mm plastic foam in a snap-lid plastic food container. Then poke holes in the plastic foam with an awl to hold shafted bits, and slice crevices with a utility knife to hold cutoff discs. Using a spade bit at high speed, drill sockets for larger bits and tube-shape containers.
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Source: Family Handyman