This article goes over ad budgets.
A budget refers to the amount of money that is allocated to specific campaigns or advertising platforms
For example, your dealership may want to allocate $500 to service campaigns, $1,000 to new car campaigns, and $1,000 to used car campaigns for Google Ads. This means your dealership has a total budget of $2,500 for Google Ads.
Facebook allows you to choose a daily budget or a lifetime budget, which allows you to set aside an amount of money for daily ad spend or to spend over the duration of a campaign