I tried and failed miserably in the Cold Turkey department last year. I started out great, but when I fell off that wagon, boy did I fall far and hard! So, this year, I am going to have a much more reasonable expectation for myself. I realize that I will not be able to completely stop spending - sometimes I need a paper for a specific subject (hockey based or football based paper, graduation paper, etc.), other times I need a specific embellishment for the same reason. My goal this year is to limit my spending to those types of purchases - something I really do need because I don't have it in my stash. No more "ooh, isn't that pretty, I should probably buy it because it might be gone". If it's gone, it's gone - something else just as pretty will invariably come along.
One thing I did do really well this year was to shop and create with my stash. I'm going to spend this year doing that again, and at the end of the year, I am going to purge the rest of it - I will have spend 2 full years trying to pare down that stash, and if I haven't used it up by the end of December 2012, then I probably never will. Also, I will be more vigilant looking for alterable items that are either somehow free or extremely inexpensive - I want to expand my offerings for my church's craft bazaar.
Good luck to everyone on their goals, and Happy New Year!
Hand over the chocolate, and no one will get hurt!