I am definitely what the industry would call a "collector". I do alot of scrapping but i Buy wayyyy faster than I can scrap.

To keep up with my habit, I have a few tips:

STORE IT AS YOU USE IT

I used to have a drawer with "Tools". But I never looked for "Tools"--I always needed a hammer, or scissors, or a corner punch. So I changed the way I store my stuff to the way I use and look for my stuff. I have a drawer for punches. And another drawer for adhesive. Since I use scissors alot, I took them out of the drawer and put the in a cup on my scrap table. I don't use my eyelet setter much so I put that away in a drawer for tools I don't use much, called "Misc Tools". I recently read in a home magazine that this is how you should organize your kitchen--why not your scrap area!? As soon as you are done with item, put it away.

WEED OFTEN

In organizing your house one rule of thumb is that you should discard items you have not used in the last 6 months or year. Though it can be painful, you can apply this rule to scrapbooking as well. I try to go through my scrap area about once a month and check out what I am using, what I am not using, and weed out what I am not using. I have a light table. I have NEVER used it. Will I? Probably not. So either I start using it now or I get rid of it. You can have a scrapbooking yard sale, sell items online, or swap with friends (which doesn't really solve your problem of having too much stuff!). At any rate, if you don't use it, lose it!