Physical clutter is emotional clutter. Its also a time sucker. If you find yourself surrounded by "sentimental items", understand that your are putting emotional value on a material object and will probably find yourself spending more and more time finding a way to contain your "memories". The more those "sentiments" accumulate, the less time you will have to live your life, spend time with your loved ones, and create new memories. If we make an effort to direct our sentiment to the things that truly matter, then we have an easier time letting go of "stuff" and more room in our lives for the things and people that matter.
Take a very practical approach to your project. Step into your space and pick up an item. When's the last time you used it? If its been more than a year, consider the space its been utilizing for the past 365 days. Could someone else get practical use of this item? Is this item helping you live your best life? The best self service is service to others. Think of how much value that item you haven't touched in years, can bring to someone else's life.
If you're bringing in a new item into your space, the natural order of things is to already have a designated place in mind for it to "live". Many people go out, buy things, bring it home, and THEN try to find a place for it. Weigh the value of that item to the space it will occupy. If you cant find a place for the items you already own, are you really willing to give up MORE space for MORE things?. Focus on finding a "home" for the items in your space. If you can't, then you probably don't need it... or anything new for that matter.
Junk is trash. Why would you want to dedicate a drawer or an array of drawers in your home or office to trash? Break out the label maker! What should this drawer hold? If its in the kitchen, perhaps it will hold tiny kitchen tools and coupons. If its a bathroom drawer, maybe it holds toothpaste, mouthwash, q-tips and extra toothbrushes for guests. Stick to those categories and organize them accordingly. Drawer dividers are a great way to organize drawers by purpose or category. The same can be done for stationary, accessories, candles, etc. Visit this drawer on cleaning day and make sure that you haven't had any "junk" creep its way back into your space.