I just keep a small air-tight canister with sugar and add my vanilla pods that have had the beans scraped. Whenever I use a vanilla bean, the used pod gets put into the sugar. It may take a while, but the sugar will take on a wonderful vanilla flavor. At the price of vanilla beans, I try not to let them go to waste.
"As a girl I had zero interest in the stove." - Julia Child
This is real inspiration. Look what Julia became!