It's the very very first thing I set when setting up my GCloud hobby project. I was like, this is fun and all, but I don't care about this enough so I limited it to 3$ per day and 50$ per month. If it goes above, I'm very happy to let it die, and it also gives me a warning so I know something is up. The 2 times it triggered, there was something I managed to fix so the tool is still up and running costing pennies.
The account I did it on was tied to my "junk" email, so I didn't catch amazon banging on my door saying my payment info needed to be updated. Well until I did happen upon one of the emails. Nearly had a heart attack.
Talked to aws support and they full refunded me. Very very kind of them, but now I'm terrified to touch anything aws.
I also don't understand why everyone is assuming
"if I hit threshold X do A, if I hit threshold Y do B" where A and B are some combination of shutting down and deleting resources,
is as difficult as solving NP complete.
Greed, I'm assuming.
The problem with billing is that often these charges are not calculated instantly, and others are not trivial to deal with. For example what happens if you go over budget on bandwidth or bucket storage, but still within quota? What do you kill? Do you immediately shut down everything? Do you lose data? There are lots of edge cases.
You can normally write your own hooks to monitor billing alerts and take action appropriately.