Don’t be fooled into relying on your hosts ability to backup the last 24 hours data as is possible with virtually all VPS’s with any web hosting company. You may feel that your data is not business critical or that you could get by with yesterdays data. The very fact that you have a VPS demonstrates that you probably have a significant amount of data and you need business continuity.
There really is no short cuts here, it’s worth every cent to have continuous data backup. Specify, four hour snapshots at the very least if not two hour snapshot backups from your host. This will give you and the business peace of mind….