When I was in college, one of my company instructors told us students that one of the biggest barriers to making money was procrastination.
Backing up your blog regularly also assists in securing from fix hacked wordpress site hackers. You have to keep a copy of your documents hide away in backup system that you can be confident of your database. This makes you a protected backup files that serves you in times of down that is unexpected is the system. Hackers are not as likely to steal from a bonded back up system.
Should your website's server go down, everything you've worked for will go with it. You'll make no sales, get no traffic or signups to your site, until you have the website back up 32, and in short, you are out of business.
Yes, you need to do regular backups of your site. I recommend at least a weekly database backup and a read here monthly "full" backup. More, if at all possible. Definitely more, if you make additions and changes to your website. If you have a community of people that are in there all the time, or make changes multiple times every day, a daily backup More Help should be a minimum.
It's really sexy to fan the flames of fear. That is what click over here now bloggers and journalists and politicians and public figures do. It's great for readership and it brings money into the war chests. Balderdash.
Utilizing a plugin for WordPress security just makes great sense. WordPress backups need to be performed on a regular basis. Do not become a victim because of not being proactive!