Editor’s Note: Julie Morgenstern is a New York Times best-selling author and professional organizer. Her fifth book, When Organizing Isn’t Enough: SHED Your Stuff, Change Your Life arrived in bookstores in June.

When the world around us is chaotic, the one thing we can still control is our space and time. Nothing feels better than a home that nurtures you, a safe haven where you can relax and recharge. And a well-managed schedule puts you in the position to capitalize on every opportunity that comes your way. Getting a grip on your space, time and finances will equip you to navigate the unpredictable environment outside your door. 

To start, I recommend organizing three key spots in your home — which will help you save money by eliminating unnecessary spending, reducing stress and freeing up the time and energy to tackle the more formidable areas of finance and schedule. 

1. Clothes: You may be tempted to drown your worries about the economy by shopping for a winter wardrobe. A little retail therapy. Fine. Go find something fabulous that fuels your soul. But first, shop your own closet. Spend three to four hours pulling everything out of the closet. Unearth clothes you forgot you owned. Try new combinations of outfits, for the upcoming season. Have a friend keep you company to provide a second opinion and fresh look at your wardrobe and its possibilities. Boldly rid yourself of anything that doesn’t fit, doesn’t flatter or isn’t you, so your closet remains filled only with what you use and love.     

What to do with the stuff that doesn’t work? A few fun options:

• CASH IN. Sell clothing and accessories you bought, never wore and never will by taking them to a consignment shop, or posting them with photos and well-worded descriptions on eBay (www.ebay.com). You won’t get near-full value, but it might make you feel better to recoup some cash. Alternatively, see what might make for good gifts for the people on your holiday list — that’s as good as cash in your pocket too.
• GIVE AWAY new or gently used items to a charity of your choice. Or bag up for a friend who shares your taste and wears your (old) size.
• HOST A CLOTHING EXCHANGE. Invite five to ten friends to a brunch or evening gathering and ask every guest to bring at least one bag of clothes in good condition to exchange. Serve up wine and snacks, dump everything on the floor and start the fashion show (a few strategically placed mirrors can set the mood).  Everyone wins in the swap and you can cart leftovers to a women’s shelter.

2. Toiletries and Makeup: OK, we’re all guilty of  frequently giving in to the most tempting of impulse purchases: products which held forth the promise of perfect skin, hair and beauty. Our bathrooms, bedside tables and makeup bags overflow with hundreds to thousands of dollars worth of half-used (or never used) face creams, body butters, hand lotions, shampoos, hair masks, cosmetics, etc. It’s time to forgive your transgressions: Clean up, clear out and get back to the essentials.

Tackle one storage area at a time (medicine chest, linen closet, bedside table, shower area) and remove everything that you don’t CURRENTLY use, and divide the “goods” into two piles:

• Partially used, abandoned products.
• Brand new, never used.

First, eyeball the partially used, abandoned pile:

• Do a rough guesstimate of the total dollars the discards represent. Unpleasant? Yes. Incentive to maintain a better organizing system for the future? You bet.
• Now, toss all of it to clear your space — and mind — of the clutter.  Empty the contents of glass and plastic bottles down the drain, and place the empties in the recycling bin. 
• If you discover a couple of long-lost favorites that you will begin using tomorrow, return them to the cabinet with the other products you currently use.