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We highly recommend using AWS Budgets instead. If you use Budgets for notifications and alerting only https://aws.amazon.com/aws-cost-management/aws-budgets/pricing/ - they are free. You don't pay anything.
If you want to use some extra features (in particular, Budget Actions) - then only first 2 actions-enabled budgets are free, and then you pay a fee for additional ones.
However, using Budgets for billing alerts and notifications only, will not cost you anything.
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As per https://aws.amazon.com/aws-cost-management/aws-budgets/pricing/ the first two budgets are free.
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It's only when you use Budget Actions. If it's just for cost alerting and notifications, then it's free.