Create and implement an AWS Budget for monthly forecasted cost

Budgets allow you to manage cost and usage by providing notifications or restricting actions when a budget exceeds its threshold (actual or forecasted amounts).

Budgets and notifications are updated when your billing data is updated, which is at least once per day.

NOTE: You may not receive an alarm for a forecasted budget if your account is new. Forecasting requires existing usage within the account.

Create a monthly cost budget for your account

We will create a monthly cost budget which will notify if the forecasted amount exceeds the budget.

  1. Log into the console via SSO and open the Billing console. This can be achieved by using the search bar or by selecting My Billing Dashboard from your account dropdown menu. Images/1.png

  2. Select Budgets from the left hand menu: Images/AWSBudget2.png

  3. Click on Create a budget: Images/AWSBudget3.png

  4. Ensure Cost Budget is selected, and click Set your budget >: Images/AWSBudget4.png

  5. Create a cost budget, enter the following details:

    • Name: CostBudget1
    • Period: Monthly
    • Budget effective dates: Recurring Budget
    • Start Month: (select current month)
    • Budget amount: Fixed
    • Budgeted amount: $1 (enter an amount a lot LESS than last months cost),
    • Other fields: leave as defaults: Images/AWSBudget5.png
  6. Scroll down and click Configure thresholds >: Images/AWSBudget6.png

  7. Select:

    • Set threshold based on: Forecasted Costs
    • Alert threshold: 100% of budgeted amount
    • Set up your notifications: Input your email address in the Email recipients field
    • Click on Confirm budget >: Images/AWSBudget7.png
  8. Review the configuration, and click Create: Images/AWSBudget8.png

  9. You should see the current forecast will exceed the budget (you may need to refresh your browser): Images/AWSBudget9.png

10: You will receive an email similar to this within a few minutes: Images/AWSBudget10.png

You have created a forecasted budget, when your forecasted costs for the entire account are predicted to exceed the forecast, you will receive a notification.