Absolutely terrible advice. If you're running out of space it means you don't have enough disk space for the database.
Shrinking a database should NEVER be a regularly scheduled operation. It's something done after an unusual operation has increased the size of the DB far above what it needs to be for regular operation, or after a large data archive/delete has been done. In either case, the shrink is a once-off operation.
Gail Shaw
Microsoft Certified Master: SQL Server, MVP, M.Sc (Comp Sci)
SQL In The Wild: Discussions on DB performance with occasional diversions into recoverability