While Labor Day tends to signify the end of the Summer season, the retail world has been preparing for Fall since Summer began. And while you may be a few months away from incorporating wool and cashmere into your daily wardrobe, now is the time to start thinking about how to transition your closet and your style into the new Fall season.

TAKE STOCK– By far, the most important part of this transition is to have an accurate picture of what you already own: in the closet, the attic, the garage, your friend’s closet… You would be amazed at how much is forgotten after only 6 short months and how many pieces are still sitting in dry cleaner bags, hidden at the back of your closet, and on loan. To determine what you need, you must know everything you have. To illustrate: the cost of replacing two sweaters you think are missing (and will probably uncover mid-way through the season) is equal to a fabulous pair of Fall’s hottest booties (also available at MAX). Or an incredible cocktail ring. Or that final and irresistible sale item of the Summer.

EDUCATE– Once you know what you have, it’s time to have some fun by deciding what you want. With stores showcasing all new merchandise, it’s difficult to pace yourself, but spending your allowance too quickly is a mistake. Before committing to a particular piece, pieces, or an entire collection, you must have a complete picture of what’s fully available for the season. The September Issue of all fashion magazines (on stands right now) is the biggest of the year and features all the looks, trends, and available merchandise of the next 3 months. But, like everything else, not all fashion magazines are created equal. I recommend limiting your reading to Elle, Bazaar, Lucky, and In Style (yes VOGUE , the mother of all fashion magazines, offers little in the way of realistic fashion and style inspiration. Like Playboy, its merits lie more in the editorial content).

LOVE THE LOCAL– Remember to support local businesses. Here’s my guide to the best. Stay tuned to Part II where I break down the new trends and everything you need to know.