It is usually very important for a project to stay within the limits of estimated expenses.  
In My Hours you can set a budget for every project:

There are two ways in which you can set your budget:

1. Total project hours

2. Total project value

The project budget will be spent by tracking your or your teammates billable working time. For example, If you set the budget at 50 hours, it will be spent after 50 tracked hours on a project. If you set it at $ 6000, the budget will be spent after this amount of billable hours is tracked.

Set budget notification
Administrators assigned to the project will receive an email reminder when you reach a certain threshold. You can set a threshold by entering a percentage value.

Monitor your projects

You can monitor the budget spent on the Projects page:

The progress bar of the project is colored green as long as the costs are within the estimated budget amount. When you reach 80% it will turn orange and at 100% into red. 

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