It's also a pretty good use for a VPS, too. I mostly just use local version control for my stuff, but I enjoy being able to just push to the Mercurial repo on my Linode whenever I want to back stuff up.
Indeed, plus it's fun to learn how to set up access controls a-la Github and Bitbucket for your own repositories. So you can do 'git clone git@yourwebsite.tld:project_name' as well as your own unlimited private repos!
Also https://github.com/gogits/gogs which I run on my VPS and though I still rely on GitHub first and foremost (because GitHub is way better), it's good to have.