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Do set a daily budget, you are comfortable with. Set a CPC which is workable for you. Do not go overboard when you start. Start small and build slowly.
When you have a big budget campaign with a high CPC, the pause/stop action may take upto a few hours to completely pull the ads off various servers. This may lead to a little extra billing so play safe with a small budget to start with. It is also important to track, the pause feature after a few hours to reconfirm that ad delivery has stopped. You can write to support in case of any problems and adWords support will normally respond within 24 hours.
* Most advertisers are on a 'post-pay' option, which means that you pay after you have received the clicks, rather than before. This is important to keep in mind if you do pause or delete your ads - as you'll almost certainly receive a follow up billing which covers the clicks you've received in the time period between your last payment, and the time you paused or deleted your ads.
* To maximize your chances of success, I would highly recommend learning as much as you can about AdWords. It is a very nuanced program, and, IMO, you should expect to put in some serious work in the early phases of your advertisin as you come up to speed on those nuances. It is a very rare advertiser who sets their campaign up perfectly on the first go, never monitors and adjusts anything, and then sits back and watches the business pour in.
Some resources of note:
* The searchable AdWords Help Center:
* The AdWords Learning Center:
* This forum, of course. ;)
[edited by: eWhisper at 12:38 am (utc) on April 22, 2007]
[edit reason] Please don't drop links. See TOS. [/edit]