Day 8: EC2 Budget Setup💰📝

Introduction

As we learned in previous blog, Amazon Elastic Compute Cloud (EC2) is a web service that provides resizable compute capacity in the cloud. This blog post will guide you through setting up a budget for your EC2 instances.

EC2 Budget Setup💰

Setting up a budget helps you monitor and control your spending on EC2 instances. Here’s how to set up an EC2 budget in AWS:

Steps to Set Up a Budget💰📊

1. Open AWS Billing Console:

   • Navigate to the AWS Billing and Cost Management Dashboard.

2. Create a Budget:

   • Click on "Budgets" and then "Create budget."

3. Select Budget Type:

   • Choose "Cost budget" to set a spending limit.

4. Configure Budget Details:

   • Set the budget amount, period (monthly/quarterly/annually), and start date.

   • Optionally, set up cost filters (e.g., service = EC2) to focus on EC2 costs only.

5. Set Alerts:

   • Configure email alerts to notify you when your spending exceeds certain thresholds (e.g., 50%, 80%, 100% of your budget).

6. Review and Create:

   • Review your budget settings and create the budget.

Tips for Managing EC2 Costs💴

• Use Reserved Instances: Purchase reserved instances to save money on long-term workloads.

• Enable Auto Scaling: Automatically adjust the number of instances based on demand to avoid over-provisioning.

• Monitor Usage: Regularly check the AWS Cost Explorer to analyze your spending and usage patterns.

• Use Spot Instances: Leverage spot instances for non-critical workloads to benefit from significant cost savings.

• Tagging: Tag your resources to categorize and track costs efficiently.

You can explore best practices of AWS Budget here,

https://docs.aws.amazon.com/cost-management/latest/userguide/budgets-best-practices.html#budgets-best-practices-setting-budgets

Conclusion💡

Understanding the basics of setting up a budget are essential steps in effectively managing your AWS environment. By following the information and resources in this blog, we can launch EC2 instances tailored to our needs and keep your costs under control.

I hope this detailed guide helps you get started with EC2 Budget. Stay tuned for more AWS insights!!⚜ If you found this blog helpful, share it with your network! 🌐😊

Happy cloud computing! ☁️🚀