SQL Server 2000 daily backup, need advice

HI all, in my company there is a SQL Server 2000, they ask me to make a backup plan for it, for example:

database #1:

1- they want a complete backup every 15 days (done). 2- they want a differencial backup every 1 day (done). 3- they want a transac log backup every 1 hour (done). 4- they want to keep the data for 1 month (?). this mean that they don't care about losing the information of the last month, they wat to keep the information of the current month

I was thinking to make a full backup (every 1 month) of the data base that overwrite existing media to solve this requirement, and here is my question: Am I doing the right about overwrite the existing media?? Or there is another way??, Need some advice here.

THANKS

It would be helpful for you to understand the budget constraints within your company. Is copying each month's backup to permanent secondary storage (or offsite disaster recovery) an option?

As well, what data quality tasks are being performed on the database to balance the action of backup destruction?