Time Machine is a nice way to easily keep a local hourly backup. It’s easy if you use a NAS like a synology. It’s also easy if you use a HDD plugged in to the Mac. Go for backup storage at least 1.5x the size of your installed HDD. e.g. 1TB iMac should have at least a 1.5TB time machine drive.
However, Time Machine is a handy immediate backup. You also need an offsite backup. Try Backblaze if you like cloud-based stuff. Cheap, unlimited storage, and secure. Although that first back up will take days/weeks depending on your files and connection speed.
I’d also recommend you keep another backup too. Consider using Carbon Copy Cloner, a HDD at least 1.5x the size of your current Mac HDD, and only bring it in to the house for when you back up. It’ll give you a bootable, easy to use backup.
Like others have said, Macs won’t natively write to NTFS-formatted disks.