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Original poster

Someone remind me that this is what savings are for

27 replies

dropzoneonee · 26/02/2025 16:38

Been working really hard over the last year to save as much as possibly for emergencies / rainy days / hopefully put to a house deposit.

I managed to get to £1500 and then my car broke and I've just had to fork out £1100 to fix it.

I could bloody scream. I feel like everything I've worked hard to put to one side as a single parent is just gone. Previously I'd have had to borrow that from a family member so I'm trying to remind myself of that. Just wanted to rant!

OP posts:
wherearemypastnames · 26/02/2025 16:41

Oh bummer !

You are still £400 up ?

Cars are so expensive

salemcooper · 26/02/2025 16:41

Honestly, you're in a fantastic position and that is exactly what savings are for. You handled the situation independently using your own financial resources. 100% what savings are for.

Original poster
dropzoneonee · 26/02/2025 16:43

I know I'm just totally feeling sorry for myself here but I just feel like I'm never going to have anything to show for myself. I was hoping to get a really comfortable about then book a holiday. Why do these things happen 😭

OP posts:

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General money
wherearemypastnames · 26/02/2025 16:43

Who knows why

I don't suppose camping suits you ?

ParmaVioletts · 26/02/2025 16:46

Are you saving in premium bonds

Original poster
dropzoneonee · 26/02/2025 16:47

ParmaVioletts · 26/02/2025 16:46

Are you saving in premium bonds

No just my current account bank savings account

OP posts:
Plexie · 26/02/2025 16:52

Unfortunately it's a fact of grown-up life that savings are for life maintenance (car, household repairs, glasses, dental work etc) and not just for nice things like holidays. Try to focus on the positive aspect that you managed to save and therefore had the money when you needed it and didn't go into a panic about where to borrow it from.

roselilylavender · 26/02/2025 17:04

It's so frustrating when this happens. You are beginning to feel pleased that you have an emergency fund and then a pesky emergency comes along! Just think how stressed you would be if you hadn't had your savings to fall back on and how much more it would have cost you if you had had to put it on credit card or something.
I ended up setting up different pots. One for car repairs, one for house repairs, one for Christmas, one for holidays and one for general. Then, when a bigger expense like a car repair came along, could see it as being a more routine expense which I had anticipated rather than being savings as such. If I didn't have enough, then I could use "general" or (one more than one occasion) "Christmas" or "holidays". It means each pot was smaller but I found it easier to control.

ParmaVioletts · 26/02/2025 17:06

@roselilylavender we do the same

SnowflakeSmasher86 · 26/02/2025 17:11

Ugh its crap isn’t it. But yeah, better than having to borrow from family or get a credit card.

i’ve had a similar week, just feeling like I’m getting on top of my finances then had car issues, had to call a plumber out for a minor issue that I could have sorted myself if I hadn’t panicked, now cat is ill and looking at potentially hundreds more to diagnose/treat her - its relentless.

Chasingsquirrels · 26/02/2025 17:11

Just imagine if you HADN'T had the savings!

If you get UC then look into the Help To Save account to contine your savings .
https://www.gov.uk/get-help-savings-low-income

loropianalover · 26/02/2025 17:13

I know exactly how you feel but thank goodness you had the £1100 to pay it!! That’s quite a lot so try re-frame it to feeling so relieved that you had the funds to cover it.

Now you’re ’starting again’ but in a better position than last time as you’ve already got £400!

I’d call that 2 wins!!

HolyStyleFailBatman · 26/02/2025 17:13

oh I feel your pain, cars are so bloody expensive! It’s brilliant that you had the money to hand though, and didn’t have to take on debt. Think how long it would take to pay back a loan for that amount. Instead of making repayments, you can use that money to rebuild your savings and get that holiday.

Still sickening though.

BitOutOfPractice · 26/02/2025 17:15

dammit op. Sod’s law!

But I think you should feel a warm glow of satisfaction at being able to pay up front because of your great saving.

AdoraBell · 26/02/2025 17:19

Well done for saving and having enough to pay for the car. It’s bloody frustrating but that is life. Keep saving.

zingally · 26/02/2025 17:22

That's exactly what savings are for, but it doesn't stop it being REALLY frustrating!

I experienced the same about 5-6 years ago. I spent 4 weeks of the school summer holiday working a really crappy job. Hated every minute of it, literally.

The only reason I got through it was thinking of the money.

The pay eventually hit my bank account, and literally 2 weeks later it was all gone after paying a horrendous car repair bill. I was so angry and frustrated I almost cried.

Redheadedstepchild · 26/02/2025 17:40

I echo what all PP's have already said but please be careful of, "Oh F It Syndrome." Or OFIS. Which I can succomb to if I'm not careful.

It's the financial equivalent of eating really healthily and exercising for months, then having a bit of a slip up and deciding to have a bottle of wine, the biggest takeaway and hitting the Haagen Dazs for good measure. And Repeat. Because OFIS.

If you see what I mean.

Sunnysideup4eva · 26/02/2025 17:44

Give yourself a massive pat on the back OP because instead of going into debt? You had savings :-) and for the next few months instead of paying off debt potentially with interest, you'll be able to continue saving. Maybe next time something like happens, as you started with 400 this time, you'll be left with more after paying the bill. Your financial security will grow all the time. Enjoy the feeling!

Instead of feeling a bit down about convince yourself to feel really smug about your financial security and ability to pay a big bill without touching your regular monthly spends, that's a really really good thing!

GoldMoon · 26/02/2025 17:47

That's exactly why you have savings , for a rainy day or emergencies.
How would you have paid if you didn't have it.
It's that or walk or bus it surely ?

Redheadedstepchild · 26/02/2025 17:58

Cars are the ultimate money pit but here are a few close seconds:

Boilers.
Washing machines.
Dentists.
Stupid, stupid, bloody, bloody electricity bill when I have been so careful.

RandomMess · 26/02/2025 18:11

For us it's £20k for a new roof

😭

Original poster
dropzoneonee · 26/02/2025 18:17

Thank you so much everyone and sorry to the others who have stupid financial commitments coming up 😭

OP posts:
EveryDayisFriday · 26/02/2025 18:18

Oh yep I've been there. Last year we finally had a good chunk of savings and I was feeling pretty good with ourselves. Then DH changed jobs with a commute and needed a car. I was (and still am) gutted to lose most of our savings but really happy that he had the chance to get out of the toxic workplace that was ruining his spirit but he stayed because it was a 5m walk away (despite me asking him to leave for the last 5yrs). Having that money gave us the freedom to make choices that didn't cost us in high APR in loans or finance.

It sucks but you could provide for yourself, be very proud 👏.

BountifulPantry · 26/02/2025 20:18

For what it’s worth it sounds like you’re doing a fantastic job. It might not feel it right now but it’s true. Keep going OP.

Original poster
dropzoneonee · 26/02/2025 20:31

BountifulPantry · 26/02/2025 20:18

For what it’s worth it sounds like you’re doing a fantastic job. It might not feel it right now but it’s true. Keep going OP.

Thank you so much Blush

OP posts: