This is what I started with:
And this is what was left.
The lower band portion was the first part I cut. It was cut into 3 pieces - 2 pieces for the front and back band. The leftover portion was sufficient to make a facing for the neckline. I reversed the facing so that it is a design element on the outside of the neck. This created 2 oval shaped remnants - one from the facing and one from the garment itself. The garment remnant was half from the dark fabric and half from the striped piece due to the way I pieced them right down the center front and center back. These pieces were perfect for little pockets in the front horizontal seam.
I had great fun making this even though DH says it makes me look hippy. I don't think he's referring to that 70's look either. So it really is (almost) waste free and (unfortunately) waist free - not a great look for me. Maybe the same concept can be applied to a larger piece of fabric so that I can avoid the horizontal line at my hips. In fact, I can now visualize an even better way to put these 3 together to avoid that hard horizontal line. It would've been even more cool to make one of the pieces run the length of the front, another run the length of the back, and then fit the leftover pieces into the side front and side back, so that the overall design would be vertical.