External storage is very inexpensive these days, and with Time Machine and Carbon Copy Cloner, keeping a current backup is seamless and effortless.
Regardless of whether you update to Yosemite or not, you should maintain a current backup. It is the first thing I always suggest for anyone setting up a new computer, whether it is a Mac or Windows (or Linux).
Stuff happens, and when it does, you will be glad you have a backup.
If you think you can't afford a backup, ask yourself if you can afford to lose everything.
*Data storage is always less expensive than data recovery.