All it takes is for one mistake and you'll be kicking yourself for . You're also in the position to choose which version control system (VCS) is used. If there is any possibility that you'll work in a development team in the future, this is a great time to give yourself hands-on experience with a VCS. SVN and Git (or Mercurial) would be great starting points and should only take a couple of hours to grasp the basic commands in each VCS.
Now to debunk what the negative points...
1) Additional resources required
The only resource required is disk space. Since this is a small percentage (smaller in Git than X) of your total code, I don't think this will be an issue. It doesn't cost any money either.
2) Time to setup, get used to it, etc.
There will be time required to learn it, but it is only a few hours for each of these (as mentioned above). On the longer term, it has the potential to save you an infinite amount of time (and so much more). Once you've mastered the basics of a VCS, it will be far less finicky than performing the local backup you have in mind.