How do I save money on my AWS usage using a Savings Plan?

Last updated: 2022-06-27

I want to get the best price for my predictable workloads on Elastic Compute Cloud (Amazon EC2) instances, AWS Fargate, or Amazon SageMaker. How can AWS Savings Plans help me save money?

Resolution

You can use Savings Plans to save on AWS usage in exchange for a commitment to a consistent amount of usage. There are three types of Savings Plans:

  • Compute Savings Plans offer flexible attributes such as instance family, instance size, AWS Region, operating system, tenancy, and compute options.
  • EC2 Instance Savings Plans offer flexible attributes such as size, operating system, and tenancy within a specific instance family in a chosen AWS Region.
  • Amazon SageMaker Savings Plans offer flexible attributes such as instance family, instance size, AWS Region, and component for your SageMaker instance usage.

Pricing

You can sign up for a Savings Plan by making a commitment of as little as $0.00001/hour. The rates offered by your Savings Plan remain constant throughout the term of the plan. For detailed pricing information, see Compute Savings Plans and Machine Learning Savings Plans.

Note: The benefit of Savings Plans is applied to usage every hour. Any unused benefits aren't carried over to the next hour.

Savings Plans recommendations

You can view your Savings Plans recommendations based on your past usage. Or, you can construct and purchase a custom Savings Plan based on your planned AWS usage. For more information, see How can I use Cost Explorer to analyze my spending and usage?

Purchase options

To purchase a Savings Plan, you must turn on Cost Explorer. To complete a Savings Plan purchase, see Purchasing Savings Plans.

To purchase Savings Plans using APIs, see Savings Plans API Reference.

For more information, see What should I consider before purchasing a Savings Plan?

Note: You can have multiple Savings Plans active at the same time.