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I see that you are unsure of what it means for how many submissions your account can have including whether or not it a monthly limit.
Your submissions is limited to an all-time total of 500 submissions for starter (free) plans.
This is also the reason why it says "500 Total Submissions Storage" and not per month there because that's the max limit for submission storage at any given time.
If you hit that max limit you will begin receiving notices from our system suggesting that you upgrade or your account will begin to delete older submissions every time you receive a new one to make room for it.