Time Capsule/Machine sparsebundle editing

Hi,

I just got a 2TB Time Capsule,

I'm planning on using 1TB for backups and 1TB for media and random junk storage.

Would anyone be able to walk me through (slowly), and explain how I can limit the size of Time Machine backups?

Cheers

You don't. Time Machine takes care of that and is not designed for user meddling.

If you want something where you can fiddle with the backup files, I'd suggest not using Time Machine and instead using a clone program.