It really depends! How much you plan on smoking and the quality of the bud. I smoke a small amount daily...and with a pound, i think I'm set for well over a year. I Dont roll joints or blunts which tend to burn thru a lot more weed.....and they're also not the healthiest choice. I estimate i burn a half gram daily....so you do the math.
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If it is wrapped up properly, it won't start losing its potency for several months. Wrapping it up properly means putting it in a sealed Ziploc bag, and then putting the bag inside another sealed container (like an empty jam jar with the lid screwed on tight, or a Tupperware container).
Putting it in the freezer will help keep it from losing its potency. If you have some weed that you're not planning on smoking for a long time -- like, a year -- it would be a good idea to keep it in the freezer.