The question you ask is one of "those" questions with a whole lot of tentacles, especially if your in need of doing something in particular using that recovery model. I strongly recommend that you ask Yabingooglehoo about the SIMPLE Recovery Model and learn more about it rather than just taking an answer that covers only a tiny facet of the Recovery Model.
Seriously, the data you save may be your own. 😉
--Jeff Moden
Change is inevitable... Change for the better is not.