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Hi, I’m thinking about launching a discussion board for my niche.
Can I run a forum on a basic shared hosting plan? How much bandwidth and RAM does a small forum usually use?
I want to keep costs low in the beginning.

Yes, it is not a problem at all. You can start at around 200MB disk space and 1GB data transfer. Later when your forum becomes bigger, like 1000-10000 discussion threads+, you may need more transfer like 15GB+ (due to various scrapers, AI bots), I would recommend CIDRAM script to reduce traffic from these.

Nowadays hosting can be found for less than $2 monthly. Check offers section on this forum.

Providers using modern server hardware and NVMe storage can offer good performance and faster website loading times, depending on the overall server configuration.