A few tips for keeping the toys in your home to a minimum
Here are a few tips that may help you become more mindful of the toys and craft supplies you already have and what items are coming into your home space:
Collect all your art supplies in one area. Use what you have first.
Reset or tidy as part of your nightly routine. Keep your expectations realistic - young children do not have the executive functioning skills to do this on their own. This is something that can be learned. (Hint: If it takes you and your child working together more than 10 minutes - then either there are too many things out or there aren't clear "homes or zones" for the items)
Use a toy rotation method. Keep out a small selection of toys in the places that they are being used.. Store the other toys (presorted into totes or other containers) in a storage area, out of sight. You can switch toys/ books out throughout the year. Or the children can ask for a specific toy by name. It will become clear which toys are being used and which ones can go.
Make decluttering a habit. Place a donation bin or bag in the toy room or near your door. Model putting items in the bin you no longer need or love. You may want to say "I'm sure another family will enjoy ....."
Only purchase toys on special occasions. If your child wants a toy they see in between, you can suggest taking a photo and putting it on their wish list. Older children can use their own money from chores, etc. to earn the toys they want. (It's a good way to allow a pause between impulse buying or thoughtful purchases that they may really want.)
Make it a habit of NOT getting a small toy every time you are out and about.
Host a toy and book swap party with friends. Any unwanted toys can be donated.
Ask for support from your family. Ask for memberships or experiences over gifts.