To think it’s very bleak to be saving this and getting absolutely nowhere? What’s the point?

A higher rate allowance is only £500 now, basic taxpayer is £1000 so depending on that and or the high street % rate, it is possible.

Well done for being able to save it up. I know it feels fruitless when it's had to out too but honestly it's not. You've had the money to be able to pay for the emergencies, more unfortunate people would have had no choice but to put it on credit and be paying an extra 29% interest for the privilege. Not having to pay that interest is what you have saved, in effect.

I’m a single mum. I save £30 a month. £10 in my savings and £10 in each of my kid’s savings. Who are ‘most people’? I suspect you mean most people you know. If my boiler broke, I’d have to stick it on a credit card. To me, you have a lot of money and are financially doing very well.

The op won't be paying tax on interest earned, so she should only go for an ISA if the interest rate is better and she still has easy access to the money.

I think you're being a bit pessimistic. 1.5k per month is loads and as previous posters have said part of financial security is dealing with problems as they arise without it tipping you into a crisis. However it is frustrating that unexpected expenses can throw you off your planned goal and I know you're disappointed about the holiday so I say give your head a wobble but only a wee gentle one and look forward to a holiday next year!

Yes! Imagine either not being able to get the work done, or not having any choice but to get it done and go into debt for it. You’re winning, really.

Not many folk can save !500k a month. I truly don't t understand why you are dissatisfied. Some folk don't even earn 1500k a month

Also, have you worked out if it's better to save or overpay your mortgage instead. Or 50/50.

Do the maths, as getting that 60k buffer may come a bit from saving and a bit from overpaying.

Most people do not realise how much interest they pay by keeping a mortgage full term. It's outrageous when you work it out.

I'd say you are ahead financially compared to a lot of people - stop comparing yourself to people and be grateful for what you do have.

I don't mean that in a snarky way, but you're doing so well to save that each month.

I cannot imagine the luxury of saving that much each month
I am 60 and try and save £450, but frequently have to dip back into it for unexpected items - this month it was a car issue which was £800 just after Xmas

Are you saving into an isa rather than a high street savings account?

Isa's are tax free, so don't let the taxman take a cut of that 1.5 a month!

There are different types so take a look. I found this website very helpful.

https://www.boringmoney.co.uk/home/

That’s a big list of expensive things you’ve been fortunate to be able to pay for and you know you’re able to save more. Could be much much worse.

And no, most people aren’t in a better position than you are.

Welcome to life. Congratulations on being able to save that much each month. It means you can have your boiler replaced, without running into debt. You can have tree down, without debt etc. That is what savings are really for.
You should still have enough for a holiday. You are succeeding and doing well.

It won't be like that every year though, it takes time to accumulate.

My take home pay is £1650. We mostly live on that (we get DLA for DS). Fortunate to have no rent/mortgage so I consider myself lucky. If I had a spare £1500 a month I'd be overjoyed. And yes, one off costs happen, we needed a new boiler and then a new roof and that's largely wiped out our savings with little opportunity to build them back up.

"most people" I know, even the ones with well paid full time jobs,no kids, live on credit, credit cards and have no savings. We're pensioners,there's a very small buffer when things go wrong. Thank god my DH can turn his hand to most things.. Martin Lewis recommended folk have a buffer of 3 months salary.

What do you mean it's got you nowhere? I think you're being overly pessimistic.
If it helps, why not consider £500 a month into a home maintenance/unexpected cost fund and £1000 into pure savings.

Honestly, you're doing fine. Your savings will be up to £10k soon.

As the other have said, you were able to sort your boiler, pay your energy bill, get the trees sorted as well as your teeth. Insurance hike is a ballache but what can you do.

This. To put it in perspective if you didn’t have those savings (and those who don’t), you would be fucked. You’re being incredibly pessimistic and negative.

Give yourself time to feel a bit miffed and then shake it off.

But part of financial security is being able to pay for the unexpected, which you’ve been able to do. It may be worth thinking about what financial security means for you, be specific about what you want your money to do for you - not worry about bills, have a buffer of x months salary, afford a holiday etc etc. You’ll then have an idea of what to do with your savings.

You're doing really well, don’t let tales of million pound pension pits on here make you think otherwise.

The point is that if you wouldn’t have it you’ll be in a lot of trouble now or debt, the glass is half full

You’re saving £1500 a month which is more than some people have to live on. You’re doing OK.

I'm sorry but that's what life is like. People have these expenses all the time. Appliances break down, plumbing issues, home maintenance. These are some of the reasons for saving money.
It seems like you'll have money for pleasure too.