Effective management of API consumption quotas is crucial for preventing inefficiencies and unexpected costs, as demonstrated by the practices implemented in the Lunar system. While some providers, like OpenAI and Okta, offer visibility through dedicated dashboards, many only provide usage information on monthly billing statements, which can be impractical. Best practices for managing API quotas include centralizing visibility across all APIs to simplify monitoring, setting alerts for early warnings before hitting hard limits, and defining a consumption strategy to prioritize API calls and prevent overconsumption. Dividing quotas into sub-quotas allows for more granular control, and employing load balancing and failover strategies ensures continuity of service without breaching limits. Additionally, tracking usage patterns helps in forecasting and budgeting, ultimately optimizing resource usage and ensuring smooth application operations.