I have saved and saved until I never wanted to look back and review/edit. I'm sticking to my process, review edit reasonably soon after shooting, delete raw unless you plan to revisit and edit again for another purpose or whatever. Snufflebunny's redundancy method is the other extreme. If you are professional and/or have significant value associated to the video might be what you need to do, otherwise it might be overkill. Everyone's situation is different. I've lived with video clutter from years of filming hours and hours of water sports with multiple cameras. Had to buy external drives to store it all. Just sat there.
Good luck, if it is a hobby, remember that.