Yes, SSD's are typically more expensive than HD's.
Others I've known have not had much luck with those USB "backup" device units. They seem to die too frequently and then you loose the data.
I always opt for a Raid 1 (mirrored) system and having more than one destination for backups, usually local and cloud based.
I use Synology units and currently have two of them. They are not the cheapest but they work great and have many features.
They can also be used for many other applications at the same time.
I use a DS918 as a NAS with four (4) 4TB drives in a raid 1 (mirrored) configuration for a total of 8TB of storage and on my desktop have it as a mapped drive with my backup software automatically backing up to it directly. There are smaller cheaper units that only have two (2) drive slots (DS218, DS220+, etc.) and you can choose use raid or not depending upon the unit and your needs. I buy them diskless and add my own selection of hard drives.
Jeff
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