How much of a problem would you consider this bill to be if you have this amount of money?

[Justwp]

If you had 60k in savings, which are added to by around 1k a month, to what extent would you consider it a problem to pay out 7k to fix something in your home? Not cosmetic, actual work that needed to be done.

Would it ruin your day? Feel a bit shit? Would it not bother you at all?

That’s what savings are for - you will still have £53k left and if you continue to pay in £1k per month you will have repaid the money by August.

Or do you need the £60k plus for something else more important?

Likewise.

It might cause me to tut slightly, but there you go. At least you can easily afford it.

I'd be very glad the money was there for the essential work, but not jumping for joy at the prospect of spending more than 10% of my savings on something "boring".

I'm trying to instil into my DC that if you have savings behind you, there are very few crisises that can't be managed. It makes a huge difference.

I wouldn't think anything of it! That's a decent pot of savings and in my mind, what savings are for! I'd also be really relieved that the money was there!

I would love to be in this position!!

I would find it very annoying as it would reduce my savings post, delaying my retirement age.

But if my savings were not intended for my retirement then I wouldn’t mind.

depends on so many factors

Tell us why you asked the question

I would be really happy I was in a position to pay and still have £53,000.

I personally know someone who has more than that savings & refuses to fix their heating system. As a result uses hot water from the kettle, to the sink to wash. It’s ridiculous.

This
Still tons left over, and you need work doing.
What's the point in having savings if you can't use them for emergency work every now and again?!

It's natural not to WANT to spend savings.

But if it's a necessary repair then of course you need to spend it.

If you are in the position to replenish your savings at the rate you say you can then really it's not such a big deal is it?

I'm in the process of spending around £ 6,500 on something necessary from a savings pot of slightly less than yours. Difference is i won't be able to replenish my savings at the rate you can. But I'm just accepting that there is nothing I can do about the situation. And as pp have said, I'm grateful I have the money to do what I have to do.

Exactly! Same. It's like being on another planet in here sometimes.
I mean, your essential work gets done, and you've still got 53 grand sat in the bank.
Meanwhile, in the real world, there's the rest of us that have to put up with crap roofs or whatever for years until we've got enough money to be able to do so, even though we finally managed to sort a couple of years ago (thankfully)

I’d be annoyed because while that’s what savings are for, I prefer them to stay as savings!

I've paid out more, from higher savings, and been a bit peeved because no-one wants to spend money on boring stuff (new boiler, underfloor leak, new shed, etc), but it is what you save for

No. it's always been spent. Ops savings will always be 7k less than they would have been without the bill.

It's annoying when savings have to become 'spendings' but it happens from time to time.

If you own a house you need to look after it. That's why you have a back up fund.

It depends what needs fixing and why.

If the roof needed redoing due to wear and tear, I'd accept it and be relieved and grateful I could easily afford it.

However if it was something that had been damaged deliberately or due to carelessness and it wasn't insured, I'd be pissed off at having to pay to sort it even though I had the money.

Can I say, all of the above!

If I'd been diligently saving for something, maybe a home deposit and going without things, I'd look at the quote for the necessary work and it probably would ruin or at least really dampen my day. The next day, it would still feel a bit shit. But, I'd pay it and be glad when the work was completed.

I think it's possibly pretty normal to feel a bit shit when your saving plan gets derailed, even if rationally you know it's an important and good use of the money.

How do I know? That would be the 6K I paid out yesterday.

I definitely felt a bit shit Tuesday night and Wednesday morning, I've philosophically moved on again now. A chat and a laugh with friends helped.

I'd invest it in my home without a second thought.

I’m always mildly annoyed when I have to pay out for house repairs. It’s a necessary evil and we can afford the bill. It still stings to pay such a large bill for something like that. It’s just one of those things though and isn’t worth fretting over.

No. Not at all. I have about a third of that amount in savings and have had to spend more on the roof in the last year. It's just part and parcel of home ownership.

my husabnd is like this and it broke me

All these people who'd be relaxed about it! I wish I was more like that. We just had to spend about twice that after an ancient electrical cable blew in our house leaving our tenants with no electricity in December. (We're living overseas so our house is let). Between repairs, making good after the repairs, and the rent refund for the period it was so expensive. We have really good savings, fortunately, and it didn't really make a dent long term but I still felt sick about it for a week or so. I think partly because it was all that money just to get to where we were - i.e. basic functioning, not even a new bathroom or better loft insulation so the house will be warmer, or getting rid of the asbestos in the kitchen roof... but it had to be done, obviously.

I’d be disappointed and upset to see the savings drop. I’d be tempted to pay 5 from the savings and carry two on an interest free cc. Working extra hard to get the savings back up asap.

I have a lot less in savings and this wouldn't bother me. I had to pay a couple of grand last year to get my guttering replaced and it made a big dent but I see this as protecting my home from damage and even more costs if the damp were to get in so it was money I happily paid. But I'm never going to have a big savings pot and I rely a lot on day to day frugality (including paying top whack into my pension) and keeping my house up together to protect myself financially going forward.

yep I have 64k in my personal savings and if I had to pay out 7k for something I wasn’t choosing to do I’d be pissed 🤣