Running Time Machine only 1 time a day at 02:00am? I must say that Time Machine is pretty useful, and it saved me a couple of times. The problem is it seems running all the times, and slowing the system down pretty often.

Is there a way/tool to run Time Machine only once a day, say 02:00am. And, it would be better if the Time Machine wakes the Mac up and after it's done with the backup, go to sleep again. 

ADDED

I installed and ran the 'Timemachine Editor' as advised, but it doesn't work. I mean, even though I set the timemachine to run 02:00am, it just runs every hour.

I use Snow Leopard 10.6.4. Is there anything that I missed?
As you said that Time MAchine Editor didn't work fine for you then I search in web and find :  TimeMachineScheduler it disables the automatic backup function of Time Machine and installs its own launchd daemon.



Time Machine Editor (free software) allows you to specify a schedule for Time Machine to run. it changes the one-hour interval of Time Machine backups. You can change the interval or decide to make daily, weekly and monthly backups.