What are the best storage systems to archive inactive (but still used) apps and files?

What are the best storage systems to archive inactive (but still used) apps and files of all types? I already have a Time Casule which I back up on and I'm needing to create more space in my flash drive in my Mac Pro, so I need another external storage system I can use to archive all that I don't currently need. I may still wish to edit and use the files, and I am not very techy and am a broke student... so anything grossly expensive is a no-no for me (between $50 and $200 is idyllic). If you could simply post links of different good/useful hard-drives that I can use, I'd be thankful.
Thank you
p.s. I'm australian, so anything within this country would be great. Or I can deal with somewhere that has cheap shipping.   

It's been moved and seconded. Any discussion? Yes:
Buy two external drives. Use one for Time Machine. Be sure this drive is at least twice the capacity of your computer's hard drive. Use the second drive as a bootable clone of your computer's hard drive. Should something happen you can immediately get the computer up and running from the clone until your restore from the Time Machine backup. This is what is called redundancy. Should either backup drive fail, there's another to take its place. Backup redundancy is very important. You can never have too many backups.

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