It's time to detox your wardrobe - but don't throw old clothes away!
With final reductions, 75 per cent off signs, and buy-one-get-one- free offers all over the shop, showing restraint in January is difficult and, when it comes to the sales, virtually impossible.
Little wonder our wardrobes and closets are bulging at the hinges.
The average woman's wardrobe houses more than 600 dresses and 400 pairs of shoes over the course of a lifetime, according to a recent study by MyCelebrityFashion.co.uk
However, despite that, about two-thirds of us throw away unwanted garments rather than reselling or recycling them.
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Now, with a wave of new season trends about to hit stores, it is time to detox your wardrobe.
But do not designate your fashion disasters to the scrap heap, January is the ideal time to assess your fashion hits and misses.
More than a third of women admit they purchased at least two pieces of clothing that follow the latest fashion trends each month.
"By the end of January all the fashion magazines bring out their trend predictions for the year, so you can see which items in your wardrobe are worth holding on to for next season," says Mark Heyes, stylist on ITV1's Lorraine.
"Be honest. Ask yourself when the last time was that you wore something. If it's an item that's been at the back of the wardrobe for a couple of years or more then it needs to go because it's unlikely you're ever going to wear it again."
Assess your sizing too. If you are holding on to a size ten dress that you were squeezing into years ago, it is time to say goodbye.
There is no need to throw away clothes just because they are surplus to your style requirements. Instead, take them to a charity shop or recycling centre.
Another great way of minimising wardrobe waste – and snapping up new additions in the process – is with swishing, aka clothes swapping.
Whether it is an organised gathering or a group of friends or colleagues, swishing parties are going down a storm in the current cash-strapped times.
"If they don't suit you any more, get together with your friends for a swishing event and swap your gorgeous but unwanted garments to get something that's brand spanking new to you," says Mark.
"Swishing is the perfect way to enhance your wardrobe as it means you get a whole new look without spending a penny, and it's a great social event, too."
If it is a professional event there are often guidelines to abide by, to ensure the clothes are of similar quality and that the swapping is fair. Nobody wants to donate a designer handbag and end up with a bargain basement clutch, after all.
If you are organising your own swishing event, ensure you have a few rules in place, and that everybody is aware of them so you can all strut away with something amazing.
There may well be hidden gems at the back of your closet that simply need some TLC.
Sort out the clothes that require repairs and either fix them yourself or take them to the tailors. Leave it to the experts if you are inept with a needle or if it is a tricky repair.
You can also inject new life into tired clothes with a stain remover, and get extra mileage out of your everyday clothes with careful washing.
Mark says: "Ask yourself whether you really need to give your clothes a full wash, or if they just need a 'refresh' on a quick spin (which saves energy too).
Just remember to always check the care label, as there are many delicate garments you should only wash by hand.