You can do stuff like "disallow any of these instances to be used in your env", so if you never use graphics cards, disallow the whole class.
You can also set limits like "no more than 20x m5.4xlarge".
But again, AWS is the worst about no actual hard limits, cause each system generates bills. Ive also seen the hell of "hidden system AWS Billing doesnt have is still submitting billing and we dont know what it is". Again, AWS enables basically infinite liability.
Ive also discussed with C levels that "every engineer and dev with AWS logins have an unlimited credit card to of which you're on the hook for". Lets just say that 'heartburn' doesnt even begin to describe the terror on their faces.
The big advantage to "cloud" was that you can provision more resources in seconds. Existing data centers had terrible non-VM and non-good VM management software that provisioning more CPU, RAM, storage was a weeks or months long trial.
And you can still get a 100k bill for hosting a SINGLE text file, cause DDoS and shitty hosting providers who demand unlimited credit is a thing.
That said, I still think there should be an easy way to set a daily limit. Should I use the Budget service to do that? Cost Explorer? Billing Alarms? Is it possible to have them shed whatever's spending all the money?...
Again, I see the whole can of worms here: what if your service is jamming tons of data into S3 because of a bug? Or you actually started something that got popular and you have a gigantic Dynamo table? Stopping an EC2 instance is maybe an easy call, but deleting data is iffy.
AWS just feels like a minefield because I'm occasionally worried with all the products, I'll check a box when creating an instance or SG or whatever, and that'll (e.g.) trigger CloudWatch to read all my logs, but I have some crappy debug config for some app which will vomit out dozens of logs a second accidentally, and instead of just trashing `/var/log/` I get billed for millions of log events or something.
They might even offer this as an insurance, so you pay a little more but can be sure you stay in budget.