What does getting rid of favourite things achieve? I think it's bad because memories are attached to things - you're meant to keep everything you have for your whole life, and to only have the best things that you really want. So they are all special.
Then, if you give things away it's yet more meaningful. Throwaway culture, distractions, are wrong. Once you go down that road of not respecting things, then you start unravelling and lose it.