Answer by Dan Wilson:
It may depend on what type of data you are backing up. If you want to backup a full system you will probably need to spend a lot of money for enough storage space. But for documents, photos etc you may find a good deal on cost, or even for free.
There are various online solutions available for backup (e.g. Dropbox, Box, Drive), the primary reason that I like them is that the backup is instantaneous and it is dead easy to restore your files to a new system if you have a hardware problem because the files are stored in a ready to use format.
In addition to those benefits you can also access your documents etc on multiple devices easily and even access version histories on some platforms (e.g. Box.com).
The main downside to an online backup system is likely to be security. Personally I am happy with strong passwords and two factor verification wherever available. On this note my favourite online storage system for sensitive data is (if you like the sound of it here is a referral link - - so we can get bonus storage!).