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You could use a cheaper VPS (like a $15/year one) and it should be fine with this use case :)
Very true! For me, that specific server was a chance to try out arm based servers. Also, I initially wanted to spin up something billed on the hour for testing, and then it was so quick to work that I just left it running.
But I'll keep my eye out for some low spec yearly billed servers, and move sooner or later.
One of my favourite hosts (GreenCloudVPS) has some cheap yearly deals: https://greencloudvps.com/billing/store/budget-kvm-sale. RackNerd have some too: https://racknerdtracker.com/ (third-party site that tracks their deals that are still active).
(I'm not affiliated with either company)