new 1tb passport ex hd

OK everyone here is what Im facing. I had a 500gb passport that I was using for time machine backup. Yesterday I recieved my new 1tb passport. I would like to use the 1tb as my sole backup system and use the 500gb for movies and music and pics. Any ideas how I can accomplish this? Thanks

Plug in the 1TB, format it as Mac OS Extended (Journaled), run T.M.
Unplug it and plug in the 500GB, delete the contents and just drag and drop whatever movies and music you want to store on there.

thanks . Im on the way down to an apple store to have some help from the bar.