I have a small business but other wise retired. I have employee records, lease agreements etc and personal stuff like photos going back a decade and a half. I have 2 levels of backup but basically:
I never keep anything on my computer. If I am working on my taxes. I pull a top level directory, which has everything for my 2020 taxes, off my NAS box onto my iMac or a MBP. At the end of the day put the directory back onto the NAS box. I have 2 NAS boxes, an old slow one for the backup. I like Synology brand.
Most modern file types; pdf, jpeg do not respond well to compression. maybe they are mostly already compressed. I keep everything on my home network lan so not that interested in encryption.
i do not use anything sparse bundle disk image:
-You loose everything if that disk image becomes corrupt
-given a total crash, to do a restore, i do not want to have to use an application to decode access the disk image.
-i did a home study; for the types of files i have; i used the compression, encryption into a singe disk image and observed it did not give me any better results. it took more space. the backup not that fast.
-i mostly write once and read many. more reliable that way
Home storage is not going away:
-If your spinning rust no guarantee a drive just sitting there will not self destruct. 4example; internal hard drive motor lubricant can creep.
-if you use a cloud backup make sure the entire data path is encrypted
-i put one NAS box in the basement, another in a spare bedroom. Their up time is a few months just now.
-i avoid proprietary cables, io ports. never know where that stuff will be in a few years.
The kitchen IMac controls the backup:
i repurposed my iMac to schedule my backups using ChronoSync. It starts up every morning at 3am and does one portion of my main NAS box. It will back up my /music one morning and do my /photos the next. it splashes up a status history screen for my morning coffee (kitchen iMac). I finally settled on ChronoSync because it is really totally reliable. It can mount all NAS boxes and or computers w/o error. Remove the mount when it is done. If i delete a file it will put the deleted or re named file into a permanent archive but other wise it sync one NAS box into the slower older craigslist NAS box as a backup.
fair to say this works for me and maybe more effort than the Joe Avg wants to do.
i do not represent these products.