If you're willing to post a bit more details, I'm sure people could give you some more detailed options. You basically switched from a fully-managed database solution to a fully DIY solution, and I honestly think you might have just over provisioned the RDS instance. I'm willing to bet you can switch back to RDS and get all the benefits there while remaining within budget. You can get a 1-year reserved t3.medium RDS instance with 50 GB of storage for $40/month.