I was telling my 11 year old daughter the other day, owning stuff stifles your life.
It takes time to acquire it, time to organize and store it, time to maintain it, and time to get rid of it.
I've been going through my stuff and agressively getting rid of a lot of it. At the same time I acquire more, but I'm being more selective, I think. I'm approaching retirement age, and I don't want to spend my retirement managing stuff, I want to spend it doing things rewarding with the stuff I actually need.
Some stuff is easy to get rid of: I had several hundred extra drill bits, maybe a couple of thousand. I sorted them out, and ebayed all of them that weren't sharp in lots for someone else to sharpen. I have more than enough to last my life that are already sharp. I put those into containers, more or less sorted by sizes, and if I had too many of one size, I ebayed those also. Then, I did the same for my taps and dies. Found that I had duplicates of many sizes of number/letter stamp sets, did the same with them. And, duplicates of my Rigid pipe threading stuff. Same with sockets and wrenches, I have many thousands of extras of them, try to put a few on ebay each week. I have/had stuff waiting for me to repair it someday. I've made it a point to repair some and sell, others either threw away or donated to thrift stores if it had residual value for repair. Surplus materials I donate to thrift stores also.
The harder stuff to get rid of is nostalgic stuff that I've outgrown. I have my original set of SK tools that I used when I worked in a shop. Totally superfluous now, replaced with snap on and proto. My williams top box, not needed but too neat to get rid of. Machinist tools that I haven't used in years, but think I might some day. My small precision mill/lathe combo, that I don't use. Specialized equipment, hard to acquire, but never used anymore.
I have a huge amount of car parts in my garage that need to go, but they are very slow sellers so not too rewarding to sell them. I should fill truck loads and give them to my local auto salvage to harvest the space in the shop. I've done that with a lot of extra building materials, I donate it to the local ReStore, run by Habitat for Humanity.
Greed and hoarding ruin your life, if you can conquer that, it greatly improves. Mine is improving steadily as I get rid of stuff and keep only what I use.