Keep a copy outside the VPS. A second directory on the same server will not protect against loss of the server. Decide which files, configuration and databases your application needs, choose a backup destination you control, and confirm how long each copy will be retained.
Use your database’s supported export or backup tool to obtain a consistent database copy. Copying live database files can produce an unusable backup. Protect access to backup files and encryption keys, and never put database passwords directly in commands that may enter shell history.
The rsync example below copies one local directory to your own backup host. Replace all placeholders and confirm the destination path first. It deliberately omits deletion of destination files. A successful transfer is not a restoration test: restore into an isolated environment and verify that the application and its data work. Do not assume provider snapshots, automatic backups or restoration assistance are included unless explicitly stated for your service.
rsync -a /path/to/data/ USER@BACKUP_HOST:/path/to/backup/