Honestly I would not recommend doing it without any backup, but if you can directly connect your internet to any computer or use your phone for tethering then you aren't really as vulnerable to a problem and should be OK.

The default set up should actually work fairly well but need you to set up the wireless security and so on. If you use the exact same details as your current WiFi then all your devices will just reconnect and save you a bunch of time. Also the performance of something like a basic TP-Link router is probably not enough to do a lot of extra fun stuff like a VPN or file sharing, so just focus on getting the basic things up first.

Also, take a backup of your current settings in the TP-Link router and get a copy of the firmware now, before you do anything else, so you can revert without having to get everything from another source. Good luck!