I backup my Mac with 1.Time Machine 2. Carbon Copy Cloner (CCC) and 3. Backblaze(offsite).
CCC is a nice addition for these reasons: 1) bootable backup so you can keep working if you have a sudden crash until you are able to restore and 2) provides a second mechanism of backup in case your TM backup is somehow corrupted unbeknownst to you.
In terms of setting up a new computer I tend to prefer TM backups but I have done it with CCC just to practice — you don’t want to have to be figuring that out when your pressed for time and you’re stressed because your computer crashed.
Thanks! Then I’ll continue with my TM based method once my new Mac arrives, but good point practicing how to do it with CCC!! Once I’m up and running with the new one I can do some testing with CCC Restoring my current machine.