1. Pay as you go: Pay for what you use, remain, agile, meet, scale demands.
2. Save when you reserve:
   • Minimize risks, predictably manage budget, comply with longterm requirements.
   • Reservation are required for : EC2 Reserved Instance, DynamoDB reserved capacity, ElastiCache ReservedNodes
3. Pay less by using more: Volume based discount
4. Pay less as AWS Grows

• Pricing Calculator: Estimate Costs in cloud (pre Usage of resources)
• Billing Dashboard, Cost Allocation Tag, cost and usage reports, cost explorer : Tracking costs in cloud (Ongoing usage or post usage of resources)
• Billing alarm, Budget : Monitoring Against cost plans, track usage wrt perUsage Estimation.

- Estimate == before using a service
- Cost Allocation Tag: Use tags to track your AWS on a details level.
- AWS Generated Tags:
    - Automatically applied to the resources you create.
- User Defined Tags:
    - "Defined by the users"
    - Starts with Prefix "user:"

- Tags: They are used for organising resources.
    - EC2: Instances, Images, LoadBalancer, Security Group.
    - RDS, VPC, Route53, IAM Users, etc
    - Resources created by Cloud Formation are all tagged in same way.
- Naming is Free, Common tags are: Name, Environment, Team, ...
- Tags can be used to create resource group:
    - Create/Maintain/View a collection of resources that share common tags.
    - Manage Tags using tag editor.

• Dive deeper into your AWS Cost & Usage.
• AWS Cost and Usage report contains most comprehensive set of data available, including additional metadata, about AWS services, prices, & reservations (e.g. Amazon EC2, Reserved Instances (RI))
• It lists usage for each service category used by account and its IAM Users.

• Visualize, Understand, and manage your AWS Costs & usage over time.
• Create custom report that analyze cost & usage data across all account, or monthly, hourly, resource level granularity
• Choose an optimal saving plan (to lower your build)
• Forecast usage upto 12 months based on previous usage.

• Create a budget and sends alarm when cost exceeds the budget.
• 4 types of budget: Usage, Cost, Reservation, Saving Plan,
• For Reserved Instance (RI): Track Utilization, Supports EC2 , ElastiCache, RDS, RedShift
• Upto 5 SNS Notification per budget. Can filter by: Service, Tag, Instance Type, LinkedAccount, PurchaseOption, Region & AZ, ApiOperations, etc.

• Continiously monitor your cost and usage using ML to detect unusal spends.
• It learns your unique historical spend pattern to detect one-time cost spike and/or continious cost increments.
• Monitor AWS account, services, cost allocation, tags ,cost category.
• Sends you the Anamoly Detection report with Root Cause Analysis.
• Get Notified with individual alerts or a daily/weekly summary (Using SNS).

• Notifies you when you’re close to a service quota value threshold.
• Create cloudwatch Alarms on the service quotas console.
• E.G. Lambda Concurrent Execution
• Request a quota increase from AWS Service Quotas or Shutdown before limit is reached.