There is nothing new that AWS is one primary factor that allows the users to control expenditures. Well, it is more than that! It not only keeps you updated about costs but also helps you optimize your spending. It continuously creates and deploys up-to-the-date, scalable applications that are designed solely to cater to your personal and professional needs.

AWS’s extensive pricing options provide ultimate flexibility in operations, so you will be able to successfully tackle your business costs without compromising on the quality, storage capacity, and overall performance. If you are serious about accomplishing the highest saving potential, AWS is your answer!

Well, there are possibilities of failure but remember the loss in minimizing the AWS costs is not always and necessarily your businesses’ culpability. We all know how complicated AWS pricing is.

Minimizing AWS costs needs to be an ongoing process

The very first thing you need to know is that reducing AWS costs is a continuous process. It should be done continuously, not periodically. This is the best advice to remember!

You must monitor and evaluate the cloud environment all the time to identify and track unattached, unused, and underused resources. By using this data, you will be able to reduce AWS costs. One simply cannot monitor the cloud usage and patterns manually 24/7/365. That is why massive size enterprises are inclined towards policy-driven automation techniques. They optimize performance and data security.

To enhance the efficiency and want your business to operate successfully, you need to minimize the AWS Cloud costs across a private, a public, or a hybrid cloud.

The Basics of AWS Cost Optimization

At the basic level, the cycle of cloud cost optimization needs to be calculated into the below-mentioned steps:

  1. Create effective asset awareness via in-depth analysis of inventory, tagging, and tracking of resources to understand what you have
  2. Keep yourself updated about currently existing services, available resources, and discount programs
  3. Study the relationship of resources to understand their effects on mutual levels on other resources and applications
  4. Implement a proven data-driven purchasing plan that focuses on all previous steps. It will help you in right-sizing your resources, investigating current commitments for utilization and usefulness, promotion to related instance generations, and planning new responsibilities considering up to a 3- year prospect.
  5. Don’t forget to set the criteria or standard for month-to-month or year-to-year analysis. It is beneficial for forecasting budgetary demands (increase or decrease)

Best practices to Minimize AWS costs

If you are into a business where you have been struggling hard to minimize the expenditure on Amazon Web Services, here are a few steps or practices that should be in your plan. These professional tips will significantly reduce AWS costs.

Delete unattached EBS volumes

On launching the EC2 instance, you will find Elastic Block Storage volume coming along as the local block storage. As long as the EBS volume exists, it will keep on adding a hefty sum to your monthly AWS cost. You would be shocked to find tons of unattached EBS volumes to AWS Cloud that are not used but are continuously charged.

But, you can get rid of this EBS massive volume by checking the “delete on termination” box whenever you launch the EC2 instance. It will automatically delete the data and help you save money.

Remove obsolete and aged snapshots

Keeping outdated snapshots in AWS is the source of increasing costs unnecessarily. It is true that EBS snapshots, individually, do not cost very much. But, why do you have to pay for obsolete pictures that are not even demanded, anymore?!

Apart from money, they take space, and the new snapshots will be deleted when you transfer them due to lack of storage. It is better to set a criterion for the number of snapshots you want to be retained per instance. And, remember to delete the ones you do not need.

Delete unattached elastic IP addresses

The most unique and strange costing strategy is practiced by elastic IP addresses (public IPv4 addresses from the pool of Amazon IP addresses). They work free of cost when attached and provide services, but once you have terminated an instance, you should get ready to pay for them even if IP addresses have become unused resources now.

These unattached Elastic IP addresses added to the cost quickly slipping away from the monitoring of AWS System Manager or AWS Console. They cost as minimum as $0.01 per hour but imagine having 50-60 AWS accounts with two IP addresses – a considerable amount!

Get rid of zombie assets

Your unused assets that are known to add up to your total operating cost are called “zombie assets.” The most usual zombie assets include unattached EBS volumes, unused Elastic Load Balancers, and obsolete snapshots. Zombie assets can be the inactivated, failed, or unused components of instances.

For minimizing the cost, you must look into unused and underused Elastic Load Balancers. It is beneficial to identify them through a complete visibility of the cloud environments and terminate them instantly.

Update your instances to the latest generation

As long as you have been updating your instance generation, you are safe!

It should be a periodic exercise because AWS tends to introduce upgraded generations of instances. The new generations show enhanced operational performance and overall functionality. For saving money through upgrading, you need to shift your current generation instances to a smaller capacity. So, now you can experience the same standard performance but at a lesser cost.

Rightsizing of EC2 instances

One of the most significant factors responsible for increasing cost is over-provisioned instances. They can affect your AWS bills making them unpredictably high. That’s why the consumer must be aware of the features they are paying for. They should know what provisions they need instead of what they use.

Scheduling on/off times

Another practice is scheduling on/off times regarding non-production instances. It includes the development, testing, and staging phases. You will be able to save a lot of money if you set the time for these services to be used. And when they are not in use, they should be turned off, saving cost. Particularly in the development phases, you must keep on and off schedule to avoid irregularity in usage patterns.

It helps minimize the cost you have been spending on non-production assets with a margin of 65%. You are welcomed to implement aggressive schedules once you get familiar with the needs. Planning the instances to be on or off schedule is a beneficial practice.

Buy Reserved Instances

Purchasing Reserved Instances can never go wrong. Such applications will help you identify when and which instances are running successfully for a more extended period to create Reserved Instance purchases practical. Choose the Reserved Instance that seems compatible with your business needs that could be Standard or Convertible. And also check if you can afford the upfront fees or not.