diff --git a/components/terraform/aws/account-settings/budgets.tf b/components/terraform/aws/account-settings/budgets.tf
index 2a409371..986fe2f6 100644
--- a/components/terraform/aws/account-settings/budgets.tf
+++ b/components/terraform/aws/account-settings/budgets.tf
@@ -1,6 +1,6 @@
 module "budgets" {
   source  = "cloudposse/budgets/aws"
-  version = "0.2.1"
+  version = "0.5.1"
   enabled = module.this.enabled && var.budgets_enabled
 
   budgets = var.budgets