How do I keep the backup drive from filling up?

It drives me nuts using this product that it fills up the drive it's backing up to and doesn't provide any notification of such. Sadly the only time I find out is when I need to restore and realize I haven't gotten a backup in weeks/months!!

If I created a Task to do a Full Backup the 1st of each month with the same destination name as the Incremental Daily's I'm doing would that work or do I need to manually each month delete my backups (pray that I don't have a failure) and do another full backup?

Thanks to whomever answers as the search on this site doesn't filter very well and I'm worn out from reading about products I don't have!

Product: TI Home 11
ver: 8101