There is no native way you can implement this out the box unfortunately.
Only Azure subscriptions like visual studio will enforce a spending limit. Pay as you go and most Azure subscriptions won’t allow this feature and so you can’t enforce a limit.
You can however have automation help you out. You can set to trigger a logic app, azure runbook script or Azure function to help stop (or delete, since you do not wish to exceed the budget amount). When the budget alert is triggered it can then run the script to stop all resources (or try and delete them).
there are some examples online already such as:
https://github.com/microsoft/budget-control-sample
Hopefully this helps you out. Please feel free to mark as accepted answer so others can benefit.