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A budget is the amount of money you want to spend on showing people your ads. It's also a cost control tool. It helps control your overall spend for a campaign or ad set, the same way a bid strategy helps control your cost per result.

Campaign budgets and ad set budgets
You can set an overall budget for your campaign with Meta Advantage campaign budget (previously known as campaign budget optimization), or set individual budgets for your ad sets.

Campaign budgets: All campaign budgets use Advantage campaign budget. This lets you set one overarching campaign budget that continuously distributes in real time to ad sets with the best opportunities. Campaign budgets can simplify campaign setup and reduce the number of budgets you have to manage manually. They help you get the most results possible from your campaign at the lowest cost, and work best if you’re flexible with how budget is spent across ad sets.
Ad set budgets: You may choose to set individual budgets for your ad sets if you want more control over delivery within specific ad sets. This can be useful if you have mixed optimization goals and bid strategies, or large differences in audience size between ad sets.
Learn more about how to choose between campaign budgets and ad set budgets.

Daily budgets and lifetime budgets
For both campaign budgets and ad set budgets, you can choose whether your budget applies to each day, or over the entire lifetime of the campaign or ad set.

