Just like the way i shoot photos.. important ones i shoot raw....less important I shoot Jpeg.... Invest in tons of HDDs every few years as it gets cheaper per 1gigabyte or terabyte. Use RAID to build a NAS. the most important of them all... be selective with what you want to keep. Try as much as possible to be discerning and keep only the best and relevant. Anything not up to par should be deleted. For example, if you took a series of the same photo or bracketing.... try as much as possible to keep just one or two. Be more discipline with what you keep or delete... do so, you also find that you will start to be more mindful when you first take the photos.
As for video,not everything needs to be in HD or worst 4K unless you are doing professional quality production work or you are that serious to explore the world of video production and editing. With all things relative, the better the quality material you want to product, the more you have to spend more.