Do you update wordpress and plugins/themes each time when an update is available?

No, not straight away, unless there is a vulnerability reported.
 
I just stick on the plugin easy update manager and update every major release. Some hosts update your Wordpress plugins and themes automatically, but I always preferred a plugin.
 
I don't use WordPress on my prod websites but yes.
I got an update this night (around 2 AM), I updated all my websites.
 
I don't update unless there's a security issue. I do manual updates from Cpanel once every 4-6 months (unzipping the theme/plugin file etc). I've blocked the plugin/theme/core update features within WP. If not carefully considered, updates can break other plugins, layout, etc.
 
I have more than 50 websites of my clients and 20 more of my own so no - I don't update them regularly or when an update pops. I just update them the next time I log into wp-admin. I have few static sites so I just enabled auto-updates which works on most of them except for the paid ones like Elementor Pro, ACF Pro and etc.
 
Too soon your site can break, too late and your site can fall victim to an exploit. Have to find a sweet spot in between. Usually, you will get exploit notices in an email from wordfence (if you signed up), they make a big difference.

I have most things set to auto-update, But with that said, I have had updates that broke my website in the past which needed to go into debug mode to fix. WordPress is kind enough to let you know what plugin threw the critical error most of the time too.

None of these have ever been compatibility issues though, Usually mistakes on a devs part which they pushed a fix for before I even noticed it happened. WordPress also does its best to show pages and content even if the backend portion is broken. CDN with a longer expiration time also gives more protection to that sort of downtime. So a bit of redundancy there, but you can't count on it 100% of the time.
 
updating secures you from protentional threats, but your should have done backup anyhow before updating, because if update crashes any of functionalities on your site you may have option to restore and resolve ..
 
Yes, I always keep them updated weekly. Fewer plugins the better!

The minor version number changes (x.x.this) I always update sooner rather than later. The major.x.x and x.minor.x version numbers I tend to wait and I definitely hold off on updating plugins like WooCommerce for which other plugins rely on because those complimentary plugins always seem to break. Once I see these complimentary plugins updated then I update Woo.
 
I basically autoupdate all plugins. I have regular backups to my host.
 
I try to, but I don't go to the admin panel that much. Usually when I go to it I have a bunch of updates to do. I guess if you have an active blog where you are moderating comments and the like you will see that you have updates more often. Most of my sites I don't really moderate comments on.
 
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