How much time can I expect this disk (1 TB) to function? I have already made a backup of my important data. But I will be unable to buy a new HDD until February. Is there any way I can extend its life? Perhaps by formatting the disk or something else?
Disk is likely to fail soon
ubuntu;hard disk;disk;failure
There is no precise time, it could be a minute from now or a month from now. But if it's bound to happen it will and you can't really prolong the disk's life, so make sure you backed up all and stop relying on it. 