Rotating Folder Backup Script

How do you create folder backup archives and limit the size by rotating old ones out? A common task and there are plenty of solutions. This is more or less the poor man's solution I'm running from cron.

This script will process each sub folder of a given base directory. If there are modified files it will create a archive tar and possibly clean out old ones. The last 7-days of snapshots and each 1st of the month will be kept.

#!/bin/bash
 
BASEDIR=/home/projects # SET THIS
BAKDIR=/home/backups # SET THIS
 
stamp=$(date +%Y-%m-%d)
 
cd "$BASEDIR"
for prj in * ; do
 
find "$prj" -mtime -1 -type f | grep "" >/dev/null && {
        tar cjf "$BAKDIR/${prj}_${stamp}.tar.bz2" "$prj"
        find "$BAKDIR" -name "${prj}_*" -mtime -14 -mtime +7 -not -name "*-01.*" -exec rm {} \;
        ls -sh "$BAKDIR/${prj}_"*
}
 
done

The script needs the bash shell and works with whitespace in directory- and filenames.