If the item you want to keep is unique/artifact then I would suggest you to keep it. If it is not, then do let it go. For example, I have an envelope cutter/opener from my university which reminds me of my good old days. I keep it because I use it daily and it reminds me of my good days and bad days every time I pick it up.
Can someone else use it?
If you let go of an item for a better use than just keeping it in your attic, then I would suggest to let go of it and make it useful for someone else. A sacrifice for a better tomorrow for someone else, will triumpg over all other emotions. If your ripped clothes can benefit someone in need of clothes, will always make you feel amazing. Adopt the concept of donation. Don't know where to donate, go to a Goodwill store or a Value village store. Still confused, just google where to donate my clothes nearby me. Google will help :)
Few more points:
Keep the best and let go of the rest
Edit items to fit into a reasonably-sized container
Take a photo of items that are meaningful but not beautiful enough to display
