From the course: AWS Certified Solutions Architect - Associate (SAA-C03) Cert Prep

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Savings Plans

Savings Plans - Amazon Web Services (AWS) Tutorial

From the course: AWS Certified Solutions Architect - Associate (SAA-C03) Cert Prep

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Savings Plans

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- [Instructor] We will now talk about a unique pricing model for Amazon EC2 instances that also transcends to other competing services in AWS. This type is called a savings plan. The savings plan option is a flexible pricing model in AWS that helps you save on your Amazon EC2, AWS Fargate and AWS Lambda usage. It lowers down the prices of your Amazon EC2, Fargate and Lambda services in exchange for a commitment to a consistent usage amount that is measured in dollars per hour for one year or three year term. What's unique about this is it doesn't just cover Amazon EC2, but also your other computing resources as well, such as AWS Fargate and AWS Lambda. A savings plan can be purchased from any AWS account, from your management account, or from the member account of your AWS organization. This option has some similarities with reserved instances as well as few differences. Just like reserved instances, the savings plan option requires a fixed one year or three year term commitment too…

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