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Cloud storage incurs costs, necessitating a strategy to optimize spending based on data storage and serving needs. Just as budgeting helps avoid overspending on groceries, it is crucial for managing cloud expenses. Key components of cloud storage pricing include data storage (dependent on storage class and bucket location), retrieval and early deletion fees (applied to non-standard storage), network usage (data transferred between buckets), and operations usage (actions performed in cloud storage). Understanding these factors can help users better manage their cloud storage costs.