Now that I've gone out on my own I don't have the time or money to spend like this anymore. It's such a change for the better.
Here are some stuff-reduction techniques I use:
Books: I have one large Ikea bookshelf. Several of the shelves are reserved as a 'rotating collection' - when the shelf gets full, I make myself sell some books on Amazon before I get new ones. The collection can never exceed the capacity of the one decent-sized bookshelf.
Every August, I take an inventory of everything I own and how often I'm using it. This includes books, clothes, office supplies, everything. Everything gets divided into three categories based on usage: heavily used, not used at all, and marginal. I keep everything in the 'heavily used' category. I sell, give away, or throw away everything in the 'never used' category. Then, I make a list of everything in the 'marginal' category and keep it until the next year. If any given item is still 'marginal' the next year, I sell it.
You'd be surprised how effective this is. What's especially amazing is the crazy stuff you can sell over the net - someone paid 50 bucks for a t-shirt I hadn't worn in 15 years. Last year I made enough cash doing this to buy a new Mac. The reduction in clutter is even better.