diff --git a/scripts/token-tracker.py b/scripts/token-tracker.py
new file mode 100644
index 00000000..50d31797
--- /dev/null
+++ b/scripts/token-tracker.py
@@ -0,0 +1,194 @@
+#!/usr/bin/env python3
+"""Token Budget Tracker -- real-time spend dashboard for pipelines."""
+
+import argparse, json, os, sqlite3, sys, time
+from datetime import datetime
+from pathlib import Path
+
+DB_PATH = Path.home() / ".hermes" / "pipelines" / "token_usage.db"
+ALERT_THRESHOLDS = [0.5, 0.8, 1.0]
+DEFAULT_BUDGETS = {
+    "knowledge-mine": 200_000_000,
+    "training-factory": 215_000_000,
+    "playground": 16_000_000,
+    "adversary": 17_000_000,
+}
+
+def get_db():
+    DB_PATH.parent.mkdir(parents=True, exist_ok=True)
+    conn = sqlite3.connect(str(DB_PATH))
+    conn.row_factory = sqlite3.Row
+    conn.execute("PRAGMA journal_mode=WAL")
+    conn.executescript("""
+        CREATE TABLE IF NOT EXISTS token_usage (
+            id INTEGER PRIMARY KEY AUTOINCREMENT,
+            pipeline TEXT NOT NULL,
+            worker TEXT NOT NULL,
+            tokens INTEGER NOT NULL,
+            recorded_at REAL NOT NULL,
+            hour_bucket TEXT NOT NULL
+        );
+        CREATE TABLE IF NOT EXISTS pipeline_budgets (
+            pipeline TEXT PRIMARY KEY,
+            target_tokens INTEGER NOT NULL,
+            updated_at REAL NOT NULL
+        );
+        CREATE TABLE IF NOT EXISTS alerts_sent (
+            pipeline TEXT NOT NULL,
+            threshold REAL NOT NULL,
+            sent_at REAL NOT NULL,
+            PRIMARY KEY (pipeline, threshold)
+        );
+        CREATE INDEX IF NOT EXISTS idx_usage_pipeline_hour
+            ON token_usage(pipeline, hour_bucket);
+    """)
+    for name, target in DEFAULT_BUDGETS.items():
+        conn.execute(
+            "INSERT OR IGNORE INTO pipeline_budgets (pipeline, target_tokens, updated_at) VALUES (?, ?, ?)",
+            (name, target, time.time())
+        )
+    conn.commit()
+    return conn
+
+def log_usage(conn, pipeline, worker, tokens):
+    now = time.time()
+    hour = datetime.now().strftime("%Y-%m-%d %H:00")
+    conn.execute(
+        "INSERT INTO token_usage (pipeline, worker, tokens, recorded_at, hour_bucket) VALUES (?, ?, ?, ?, ?)",
+        (pipeline, worker, tokens, now, hour)
+    )
+    conn.commit()
+    check_alerts(conn, pipeline)
+
+def get_pipeline_stats(conn):
+    rows = conn.execute("""
+        SELECT u.pipeline, COALESCE(b.target_tokens, 0) as target,
+            SUM(u.tokens) as used, MIN(u.recorded_at) as started_at,
+            COUNT(DISTINCT u.worker) as workers
+        FROM token_usage u
+        LEFT JOIN pipeline_budgets b ON u.pipeline = b.pipeline
+        GROUP BY u.pipeline ORDER BY used DESC
+    """).fetchall()
+    return [dict(r) for r in rows]
+
+def fmt(n):
+    if n >= 1_000_000_000: return f"{n/1_000_000_000:.1f}B"
+    if n >= 1_000_000: return f"{n/1_000_000:.1f}M"
+    if n >= 1_000: return f"{n/1_000:.1f}K"
+    return str(n)
+
+def bar(ratio, w=8):
+    filled = int(ratio * w)
+    return "█" * filled + "░" * (w - filled)
+
+def eta(used, target, started):
+    if used <= 0 or started <= 0: return "--"
+    elapsed = (time.time() - started) / 3600
+    if elapsed <= 0: return "--"
+    rate = used / elapsed
+    remaining = target - used
+    if remaining <= 0: return "DONE"
+    h = remaining / rate
+    return f"{h/24:.1f}d" if h >= 24 else f"{h:.1f}h"
+
+def render_dashboard(conn):
+    stats = get_pipeline_stats(conn)
+    if not stats:
+        print("No pipeline data recorded yet.")
+        return
+    print()
+    print(f"{'Pipeline':<20} {'Tokens Used':>12} {'Target':>10} {'Progress':>10} {'ETA':>8} {'Workers':>8}")
+    print("-" * 72)
+    total_used = total_target = 0
+    for s in stats:
+        used = s["used"] or 0
+        target = s["target"] or 1
+        ratio = min(used / target, 1.0) if target > 0 else 0
+        print(f"{s['pipeline']:<20} {fmt(used):>12} {fmt(target):>10} {bar(ratio):>10} {eta(used, target, s['started_at'] or 0):>8} {s['workers'] or 0:>8}")
+        total_used += used
+        total_target += target
+    print("-" * 72)
+    r = min(total_used / total_target, 1.0) if total_target > 0 else 0
+    print(f"{'TOTAL':<20} {fmt(total_used):>12} {fmt(total_target):>10} {bar(r):>10}")
+    print()
+
+def render_watch(conn, interval=5):
+    try:
+        while True:
+            os.system("clear" if os.name != "nt" else "cls")
+            print(f"Token Budget Tracker -- {datetime.now().strftime('%Y-%m-%d %H:%M:%S')}")
+            print("Press Ctrl+C to exit")
+            render_dashboard(conn)
+            time.sleep(interval)
+    except KeyboardInterrupt:
+        print("\nExiting.")
+
+def render_daily_summary(conn):
+    since = time.time() - 86400
+    rows = conn.execute("""
+        SELECT pipeline, SUM(tokens) as total, COUNT(DISTINCT worker) as workers, COUNT(*) as entries
+        FROM token_usage WHERE recorded_at >= ? GROUP BY pipeline ORDER BY total DESC
+    """, (since,)).fetchall()
+    if not rows:
+        print("No usage in last 24 hours.")
+        return
+    print(f"\nDaily Summary -- last 24 hours")
+    print(f"{'Pipeline':<20} {'Total Tokens':>14} {'Workers':>8} {'Entries':>8}")
+    print("-" * 54)
+    gt = 0
+    for r in rows:
+        print(f"{r['pipeline']:<20} {fmt(r['total']):>14} {r['workers']:>8} {r['entries']:>8}")
+        gt += r["total"]
+    print("-" * 54)
+    print(f"{'TOTAL':<20} {fmt(gt):>14}\n")
+
+def check_alerts(conn, pipeline):
+    row = conn.execute(
+        "SELECT SUM(u.tokens) as used, COALESCE(b.target_tokens, 0) as target "
+        "FROM token_usage u LEFT JOIN pipeline_budgets b ON u.pipeline = b.pipeline "
+        "WHERE u.pipeline = ?", (pipeline,)
+    ).fetchone()
+    if not row or row["target"] <= 0: return
+    ratio = row["used"] / row["target"]
+    for t in ALERT_THRESHOLDS:
+        if ratio >= t:
+            existing = conn.execute("SELECT 1 FROM alerts_sent WHERE pipeline = ? AND threshold = ?", (pipeline, t)).fetchone()
+            if not existing:
+                print(f"⚠️ BUDGET ALERT: {pipeline} at {int(t*100)}% ({fmt(row['used'])}/{fmt(row['target'])})", file=sys.stderr)
+                conn.execute("INSERT INTO alerts_sent (pipeline, threshold, sent_at) VALUES (?, ?, ?)", (pipeline, t, time.time()))
+                conn.commit()
+
+def set_budget(conn, pipeline, target):
+    conn.execute("INSERT OR REPLACE INTO pipeline_budgets (pipeline, target_tokens, updated_at) VALUES (?, ?, ?)",
+        (pipeline, int(target), time.time()))
+    conn.execute("DELETE FROM alerts_sent WHERE pipeline = ?", (pipeline,))
+    conn.commit()
+    print(f"Budget set: {pipeline} = {fmt(int(target))} tokens")
+
+def main():
+    parser = argparse.ArgumentParser(description="Token Budget Tracker")
+    parser.add_argument("--watch", action="store_true")
+    parser.add_argument("--watch-interval", type=int, default=5)
+    parser.add_argument("--summary", action="store_true")
+    parser.add_argument("--log", nargs=3, metavar=("PIPELINE", "WORKER", "TOKENS"))
+    parser.add_argument("--budget", nargs=2, metavar=("PIPELINE", "TARGET"))
+    parser.add_argument("--db", type=str, default=str(DB_PATH))
+    args = parser.parse_args()
+    global DB_PATH
+    DB_PATH = Path(args.db)
+    conn = get_db()
+    if args.log:
+        log_usage(conn, args.log[0], args.log[1], int(args.log[2]))
+        print(f"Logged: {args.log[0]}/{args.log[1]} = {fmt(int(args.log[2]))} tokens")
+    elif args.budget:
+        set_budget(conn, args.budget[0], args.budget[1])
+    elif args.summary:
+        render_daily_summary(conn)
+    elif args.watch:
+        render_watch(conn, interval=args.watch_interval)
+    else:
+        render_dashboard(conn)
+    conn.close()
+
+if __name__ == "__main__":
+    main()