Just too much!!

I have many, many lip sticks, but I only use lip balm these days.
I also have many, many bottles and tubes of lotion and moisturizer. I just keep buying the new products that seem to be better so I never get a chance to finish the earlier products, even though they are still good.
Same with cleanser. I have the strong ones, the completely soap-free ones (which feel useless) and then the many in-betweens.
Same with combs, I have all shapes and sizes combs and brushes, but I really only use 3 out of all.
Pants and tops. I have tons and tons of them but I actually only wear maybe a dozen of them.
Gym clothes. Shorts, pants, t-shirts, tank-tops but only 2 pairs of shorts and 3 pairs of pants and 2 tops I will use. And I even bought a new tank this weekend because I like the color!
White shirts. So many. Loose, tight, fitted, straight... but I don't wear them anymore. I tend to stain anything white with sphagetti sauce or V8 or ice cream. But the real reason is actually I am too lazy to iron.
Jackets - long, short, thin, thick, mid-sleeves, long sleeves, with cuffs, with hoods, with zipper, with buttons... All sort of styles but along the same natural colors or black. But again, I pretty much just wear only a few of them.
Shoes, handbags, belts, blushes, eye shadows, towels, PJs, socks, swim suits ... all the same story.

Should I throw them out to make space or bag them up for donation? My sister-in-law said just draw the line - if I have not used it the last 3-5 years, get rid of it.

But it seems so wasteful!! I am sure some of my friends' moms or older neighbors can use some of the stuff that are still perfectly good. But how do I say it? "I was going to throw these out but wondering if you want them/ but thought maybe you can use them?" How insulting!! I don't know... I guess that's the whole reason why I still have so much stuff. I have serious issue.