Backups
For the paranoid IT administrators among us, this one may seem like a no-brainer: what's the first thing you should do after ripping a CD or downloading a tune? Give it a listen of course! But after you've heard your new tune, it's time to get down to business, break out an external drive, and back that baby up.
Thanks to the wonders of the modern digital age, we have the ability to store our collections in such a way that we can potentially realize the original promise of the CD: perfect sound forever. Further, doing so can be eminently affordable: a 3TB hard drive costs just a bit over $100 as of the writing of this tip and provides enough space to hold thousands of uncompressed CDs. If you want to take it a step further, investing in a good quality fire and water resistant chest can provide and additional layer of protection, both for your music collection and important documents around the house.
This tip should also be a wake up call for those that refuse to take the leap into digital music and cling to their CDs. Just remember: CDs can be scratched, burnt, or otherwise damaged. Properly backed up, a digital file can be practically immune to such problems. Happy listening!