We are very happy to offer a service that will allow you to set these types of controls. Smart Family can do a number of things, and setting usage limits is certainly among them. You can visit the hollowing "How To" guide and click to jump to "Usage Limits" using the list on the right hand side of the screen: https://www.verizonwireless.com/support/how-to-use-verizon-smart-family/
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is there a way to set data usage maximum by phone?
On android phones you can set data warning and limits without paying for a subscription. Just open settings, Connections, data usage. Android also keeps totals by bill cycle as long as you own/use the phone.
Apple has still not caught on. You would think with all they can do this would be a tiny thing they can do for their users.