Depending on how you look at it, I either own 20,000 plus five things, or just two plus five things.

I'm exaggerating, but I've got a core point:

There are two things that I spend a LOT of time on and get a lot of enjoyment from:

* cooking

* wood and metalworking

I've got two meticulously organized sets of things that reflect that:

* a great kitchen with all sorts of implements, frozen stocks, a hundred spices, etc.

* a great workshop with all sorts of tools and supplies

I keep those two areas perfectly organized, because this increases my enjoyment of them on a daily basis. ...and I have no desire to prune them. My workshop has a long tail: I may not need the #3 dental pick every month, but when I want it, I really really want it. So it's in a drawer with a label. I may use it just three times a year, but I use SOME long-tail item every day or two.

Outside of my kitchen and shop, though, I abjure clutter. I own one coat, one sweater, five shirts, etc.

I entirely agree with Paul that one of the biggest expenses is the mental expense of keeping things cataloged.

My advice: if there's something you really enjoy that requires tools, get them and use them. ...but aside from that, yes, be a minimalist.

My two cents.