All the adjustments you make in Lightroom are stored in the catalog, not in the file itself. You really ought to be backing up your catalog on at least a weekly basis, in my opinion. And if you are shooting raw, I don't think it's a good idea to get rid of those raw images. You're throwing away a lot of extra data that you might need in the event that you want to rework a photo sometime in the future. It isn't necessary for you to keep every backup of the catalog. You might want to consider keeping at least the last four backups. I go to my backup folder from time to time and purge older backups.
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