^ this is stuff I wear all the time, actually ^
I've been reading Tim Gunn's A Guide to Quality, Taste and Style (shut up - it was a gift from someone who had multiple signed copies) and he has a fairly simple way of sorting your stuff:
1) Stuff you looooooove (it fits, you wear it, you love it - keep!)
2) Stuff you like but repairs are needed (you have 5 days to repair this stuff)
3) Give away (assuming this is what goes to resale shops, swaps and thrift stores)
4) Throw out (I'll assume he means textile recycling here)
What else would you add to this closet clean-out process? I will probably give myself a month for repairs because 5 days sounds like some horrible Mission: Impossible movie. What am I, an adult?