Next, do all your social activities revolve around shopping? If you're always going to the store to return, buy and return again, Mary says there may be an imbalance in your life. "Maybe it's time to take stock," she says.
Mary also suggests taking a long, hard look at your credit card statement. "It can tell you not only where you're spending your money but also where you're spending your time," she says.
Oprah says people should strive to have less stuff with more meaning. "That's the goal this year," she says. "I want to ask everybody, no matter where you are in the world, to make your own pledge."
Watch audience members reveal their money-saving secrets
Simplify your life with Oprah's challenge