Yes, you can set up a budget but it's only used for alerting. The services will happily keep running and building up to that 1k bill if you miss the alerts or don't react to them.
Wow, they really made it complex, didn't they? On one hand they advertise how anyone can spin up a VM and connect to it but you still need to do some serverless black magic to keep your budget in check. Anyway, thanks for the heads up. I'll definitely try that out.
It seems to follow their practice of building the “API first” solution. By the way, a lambda/programmatic solution allows you to disable lower priority resources and retain higher priority resources. It’s a lot of effort, but it’s incredibly flexible.
Under section 4, anyone can set up an aws cost budget