Keeping track of backups

[Gusto5]

I don't use Schedule Backup - I just run a backup about once a week.

Any tips on keeping track of backups given my use pattern?
Or how to navigate Run shell script?

And, not to fragment my question too much, but if I used Schedule Backup don't I have to leave my external firewire HD running all the time? And doesn't that shorten its life or increase chances of a HD failure?

Thanks for your help.