Need Help working out my backups all round.

I’m sure this is simple for many out there but I can’t work out the best solutions and robust / simple and cost effective way…

Let me explain how it’s set up atm…

so I have an iPhone 12 Pro Max / 256gb

only have is taken up and of course it’s mostly the videos / photos

it’s now saying I am up to my max 200gb iCloud limit and wants me to upgrade again.

so yes I guess Apple have me by the balls…

but if I can run through what ideal I want to happen:

backup my phone in case I lose it or it crashes and I can then restore it.

make sure all photos etc and videos are backed up to the cloud

i also have a MBP

at the moment since it’s a MBP 16” M1 I backup to an external HD with TimeMachine which suits me and my wallet.

BUT I am not that bothered about backing up my photos from my iPhone to my Photos app on my Mac anymore really.

however I would like to look into backing up the max too but I guess this is going to get very expensive.

is there an idiots guide to iCloud and the whole iCloud and iCloud backup side of things as I can’t for the life of me work out what is best and what o should switch on or not.