CloudWatch's billing system is designed to ensure users pay only for what they use, with a Free Tier for first-time users, but its complexity can make cost management challenging. The pricing structure involves separate tracking of various system tools and components, which can lead to unexpected costs if not carefully monitored. Key components include dashboards, logs, and metrics, each with specific costs beyond the free allowances. For example, while dashboards are free for the first three with 50 metrics, additional ones cost $3 per month. Logging costs involve stages like Collect, Store, and Analyse, with specific charges per GB. Metrics also have a tiered pricing structure, and API requests add to the costs. The article compares CloudWatch with Coralogix, highlighting Coralogix's simpler billing system and potential cost savings of up to 70% on logging costs.