Updraft Basic Settings suggestions

Hi there,
I’m new to Updraft and was looking for some info on basic/recommended settings for how often to backup file and database (daily?) and how many backups to keep (2, 3?).

I know this is likely based on site activity and/or personal preference, but I’d love some guidance.

I’m also used to backup buddy, which has a separate database backup and complete (everything) backup. I tended to take database backups daily and complete backups weekly. The database and files options (vs. database and complete) options have me stumped as to how often to do each.

Also – where is says “retain this many scheduled backups” – is that retaining them in the cloud storage of choice or on the site itself? THANK YOU!! 🙂