TimeMachineEditor
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Full user review
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"One of Time Machine's missing features"
Pros
Gives you actual control over when you want backups, unlike Apple's "we know best" attitude. Over a wireless G network, and on a 3 year old MB Pro, hourly backups are a pain and can slow things down. This free app eliminates that issue.
Cons
Documentation is lacking. Just by trial and error, I figured out I need to turn the system preferences control panel for TM to OFF to make this work (this is on the website, but not the app). So, it loses one star for that, as I almost deleted it.
Summary
You're getting more than you're paying for. Note to developers: We still need better ways of excluding files from TM.