Having been the owner of a local digitization shop, I've heard lots of stories of folks stumbling upon old film, VHS and other tapes they didn't know they even had. Items lost in storage boxes for years that still have some sentimental meaning. So what do you do when you find that stuff? Here are a few suggestions:
-Determine that the tape or film contains something of significance. If it does, then digitization is your answer. The chemicals in old film and video tapes are constantly deteriorating which makes their lifespan limited. If its important - digitize it ASAP!
-Once you know you are digitizing, decide what works for you. There are DYI options if you have the old gear to convert video. There are mail away options on the internet and Big box chain stores like Costco and Walmart that send projects off site. Or, you can go with a local video conversion service like Revolve. A smaller VHS to digital shop can work with you more closely to help preserve your memories. Be sure to check that they do all their work on site.
-Decide how you want the digital items returned. Options are flash drive, DVD or upload. It used to be that everything was on DVD or CD. Nowadays, most folks like to get their digitized items back on a thumb drive or digital upload. DVDs are generally more in favor with older folks and those that still use DVD players.
As you can see, its not too difficult to preserve important memories. If its something that matters, get it off that aging media and make it new again.