Sort Your Closet to Save -- Savings Experiment

If your closet is filled with clothes you hardly ever wear, switching to a minimalist wardrobe can be a great way to save time and money. If you're overwhelmed by the thought of clearing out your closet, here are a few ways to get started.

The first step is deciding what to keep and what to toss. The clothes that remain should range within a color palette that looks best on you. If you need a little help, check out sites like ColorEnalysis.com. With just a few clicks, you can learn which hues compliment you the most, based on skin tone, hair and eye color.

Once you've discarded all of the "bad" colors in your closet, the next step is to reduce the patterns in your wardrobe. Solid colors make mixing and matching much easier, so keep the patterns to a minimum if you want to spend less time and money on outfits.

Finally, if you're still having trouble cleaning out your closet, try using the "one year rule." If you haven't worn something in over a year, it's time to get rid of it. An easy way to help identify these pieces is to turn the hanger around when placing an item back on the rack. After one year, the clothes that are still on backwards hangers can go, and then rest can stay.

So, if you're looking to get organized and use less of your fashion budget, use these tips to downsize your wardrobe. You'll be surprised at how much time and money you'll save every day.

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