1. keep only the things you can fit into now- or within one dress size
2. keep the things you really wear, are in good condition, and still like- if you haven't worn something in a year or more get rid of it - unless its a classic Chanel - pass that one down to your daughter or a good friend.
3 when shopping, resist impluse buying- i.e.- just because something is a great deal doesn't mean you must buy it- there will aways be another deal, sale, closeout, sample sale, etc. etc. .....
It makes more sense to sometimes spend more on a quality piece that you love and can be worn many different ways for more than one occasion. For example take the beautiful grey cashmere sweater by Ralph Lauren below- Its definitely pricey, not an impluse purchase by a long shot -but very wearable, well made and versatile. See my combinations below- Same piece 4 ways for 4 different occasions-
1- Charity event
2-Cocktails after work
4-B'nai Mitzvah Service/Kiddish