I managed to screw my dates for meeting friends in Cambodia and my visa for Cambodia will expire just 2 days before I really want to leave. I read that Thailand gives you a day's grace period, is that true? Also, that the fee is 500 Baht a day? Can that be paid at the border? If so, that would be cheaper than me getting an extension for Cambodia.
Will there be any issues with my wanting to come back to Thailand after my month in Cambodia?
Thanks!

Maybe I don't understand your post, but it seems to me that you are in Cambodia, and that your Cambodian visa will expire two days before you actually want to leave, so how does Thailand and the one day grace period comes into play ?
Indeed Thailand won't charge you for one day overstay, two days will cost you 1000 baht, each additional day 500 baht.
Hmmm, not to sure about overstaying in Cambodia or getting an extension, but i think it's going to cost you $20 either way....

Sorry for the confusion. I am in Thailand now and my visa expires on the 28th. I then head to Cambodia, but need to be there until the 28th or 29th. So, given that I can only get a one month visa, I have 2-3 days that I need.
So my thought is, if I stay the one extra day in Thailand for free, leaving on the 29th instead of the 28th, then my visa for Cambodia would be good through October 28th, which might be good enough, but if I have to leave on the 29th, then I would just pay the $5 fee.

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<hr>Will there be any issues with my wanting to come back to Thailand after my month in Cambodia?<hr></blockquote>
With one overstay stamp already in your passport?...... what do you think yourself?