During a video tour of Phil's tool cabinet in his home shop, he mentioned that part of the purpose of the cabinet is to contain all of his woodworking tools. In addition to organization, it serves as a check on his tool-buying urges. Several viewers commented that he shouldn't be worried about limiting his tools -- that's part of the enjoyment (even reason for) woodworking. While the comments were partly in jest, it does bring up the topic of choosing tools and your process in determining what to buy.
This episode takes the time to examine the mindset of buying and keeping tools. There's no one right way to approach the craft.
Phil found inspiration in the Heartwood Blog by Rob Porcaro He's long advocated for having fewer tools that he uses extensively, rather than a lot of "nice-to-haves" that don't see a lot of action.