AWS has introduced Database Savings Plans, allowing customers to save up to 35% on managed database services by committing to a consistent hourly usage over a year. This plan includes flexibility to switch between database engines and deployment types while maintaining cost efficiency. Customers can purchase and evaluate plans through the AWS Billing and Cost Management Console.

MilkStraw helps manage AWS billing by syncing your account and optimizing savings plans based on your needs. It simplifies your AWS interface, providing a clear view of costs across all services. You can activate savings plans effortlessly as your requirements change.