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I agree with the above posters.

I have taken the time to learn adwords myself and use it for my business but have found it is very easy for non experienced people to waste money on it. adwords is not a guarantee of sales but more a good way to bring qualified leads to your website. my points would be.

1. set a maximum daily budget that you are willing to spend but make it large enough so that you are able to guage its results properly.
2. as mentioned opt out of content network until you are experienced as it can bring a lot of unqualified traffic to your website.
3. The more specific your advert, the more likely a qualified lead will come to your website
4. There is no point spending money on adwords if your website sucks (if you want to know this just post your site in the community section for feedback) nothing worse than spending money to bring someone to your site when all they do is take one look and leave.
5. Your daily/monthly budget also depends on the competitiveness of the keywords. Some of the stats people have mentioned im sure are for very specific keywords with probably low cost per click. depending on your keyword be prepared to pay a few dollars for someone to come to your website, that’s what it costs us to advertise under business cards, and make sure you are measuring your success through analytics to ensure that you know if it is worth continuing.

cheers, greg