How much does it cost to manage a facebook ad?

[Err... D:<]

Say your budget was $5. Would it actually cost $5 per day?

[Terence]

The minimum cost for a click is $0.01. Though this is technically the smallest bid you can enter, in most cases this bid will not be high enough for your ad or sponsored story to be shown. You’re most likely to receive impressions and clicks if your bid is in the suggested range that's provided in the pricing section when you’re setting up your ad. You can also monitor the suggested bid amount in the Ads Manager.