Oprah's blue dress

1. DON'T BUILD A WARDROBE BASED ON FANTASY
Oprah: "I bought a lot of little bags when I thought I was going to be a 'lady who lunches.' I've never been one, but I've always liked the idea and longed for that life. There's something about dressing up and being ladies—it's like playing house."

Adam Says: "Fashion can help you create an image, but be honest about your lifestyle. Do you really need yachting clothes when you never set foot on a boat? When buying an item, if you can answer 'Where am I going in this?' with at least four legitimate places, you have my blessing."
Oprah's black suit

2. DON'T BUY YOUR FAVORITES OVER AND OVER AND OVER
Oprah: "This suit, I don't know why I have it. I've never even worn it. But when my favorite designer, Gianfranco Ferré, was alive, I never went to Los Angeles or New York without going to his store."

Adam Says: "There is absolutely nothing wrong with having a go-to brand or ensemble. But if you're buying multiples of things, ask yourself: "How many black pants or little gray sweaters do I really need?" Invest in a few high-quality pieces; better craftsmanship and fabrics always last longer."
Oprah's yellow boots

3. DON'T SHOP FOR THE BEAUTIFUL BUT IMPRACTICAL
Oprah: "I was at Bergdorf Goodman one day, coming up the escalator. And these boots said, 'Helloooo, Opraaaaah.' But did I wear them once? No. I bought them because they were beautiful—because I wanted to look at them."

Adam Says: "I call this trophy shopping. Before you buy, take stock of your closet: What are you missing? Shop for those pieces before impractical items. As for 'closet jewelry'? Hang a few gorgeous items on your closet door, just to make yourself smile."