Well, a raw but easy way to do that is to create a big tarball of the whole OS drive
tar -cvpf myOSDrive.tar /
will save the whole drive in a tarball called myOSdrive which will be dumped on the directory where you are executing it from.
if you are concerned about space
tar -cvpzf myOSDrive.tar.gz /
will do the same but will compress it as well; obviously you will be paying a price in terms of time of execution.
tar -zxvpf myOSDrive.tar.gz --directory /
will restore it on your new, empty installation, keeping everything like before, including file permissions.
It will overwrite all existing files, so make sure that the new installation is really empty.
The problem with the tar approach is that, in case of system crash, you will need to re-install linux before being able to restore your tarball. So it is not an immediate disaster recovery solution.
Yet, if 100% uptime is not vital, then tar is a valid and inexpensive option, it can be scripted easily to peform a full backup and put it on a separate network resource and more.
OTherwise, why not look into cloning your drive onto another, possibly removable?
if you do not want to use commercial software (i.e. ghost) you could look into using "dd",
here is a good article
Cheers
QatQat
Life is what happens when you are making other plans.