If I Schedule Backup Manager for X Days, Will The New Data Overwrite Old Data?

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Dachio
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I'm new using the backup manager. I selected for my home directory to back up every 3 days. It said my website was too big and I need a new 10GB block so I bought it. What I don't understand is if my back up will overwrite the old backup every 3 days re-using my 20GB space or they will pile up every time asking me to buy new blocks. 

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IMH Support Agent 1
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Hello Dachio,

Thank you for contacting us about scheduling backups. It will delete older backups when it runs out of space to make room for the new instances. Let us know if you have any further questions. 

Thank you,

John-Paul