You probably don't need to do that large of a water change for your fish to be healthy.  Exceptions to this would be if your tank is overstocked, you don't have adequate filtration, or you are trying to breed a fish like discus.
x2
I aim for 40%-50% every 2 weeks for most of my tanks (standard africans, tropicals, etc). Sometimes time flies and an extra weekend might pass. 
Exceptions to the above were made for species that are sometimes more sensitive. My tropheus I'd aim for 40-50% weekly, but would sometimes slip 1 week. When I kept cyps smaller, sensitive fish, I'd go 20%-30% every 1-2 weeks.
Something to keep in mind, changing a small amount frequently is perhaps less effective than doing a larger amount on a longer duration. For example doing a 20% water change weekly is less than doing 1 40% water change every 2 weeks. 20% weekly would be ~36% of the original water being changed out over the two week period.