lol bios updates are pretty much straight forward nowadays...best to check the latest one which should contain all previous updates.
Check the date and build on the one you currently have then check the latest one...you might even email the company to see if they have any recommendations since your bios was put out.
As far as the process to update...... most bios updates have self executing programs and in a lot of cases they require that you burn the update to a CD/DVD that will boot up upon restart...just make sure your bios looks to your CD/DVD as first boot device.
There really is nothing to be afraid of in performing the bios update if you follow the manufactures instructions.
If you're worried about doing a BIOS update, do a little research about what to do if things go wrong. Different systems use different procedures to revive a system after a BIOS update goes bad. In most cases, it involves making a bootable disk and pressing some "magic" key combination.
It sounds unpleasant, but it beats buying a new system.