Everyone has a different lifestyle, even 2 people living in the same house will have a different lifestyle / the type of people they interact with.
But our lifestyles can be broadly classified into three sections.
Depending on what we want to project or create a brand for ourselves we should dress accordingly.
Say for someone working in a bank / consulting firm where their role is more client facing, it is advisable to follow the Business formal wear guidelines, in this case, if you wear denim/chinos and polo tee, you will be perceived as boyish or someone who cannot be trusted with too much responsibility.
The basic idea is we should separate our Personal – Social – Professional attire, a bit of overlapping or mixing clothes is all right but if we dress the same everywhere then we are not projecting the right appropriate image.
Your own Image has various nuances to it, being appropriate to where you are going is one of the important aspects of dressing up.
When you audit your closet, separate your outfits/clothes in these broad sections and then evaluate what you have and what is missing for you to create an appropriate image for yourself.