Car related costs fund

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My partner used to save 100 gbp a month for car stuff
( Be that car tax or new tyre etc)

He used to get stressed if had an unexpected car emergency

( the cars on finance well bank loanbut nearly fully paid off )

A couple of months ago - i suggested he up the car saving to 150 gbp a month - to help minimise car stress which hes done. .
Everyones different , i know
But just wondering - those who have car sinking funds or car pots - how much dya save monthly for this ?

( this is seperate to the 100 gbp ish a month that he pays directly to car bank loan each month when hes paid )

Thanks

I have a car through work, so they pay for everything, insurance, MOT, service, tyres etc.

However we save £150 a month to cover DH car costs, he had new breaks and a full set of tyres, plus MOT, so that was about £1800 so the £150 should build up enough ready for next time. (I know you don't need tyres/brakes every year, but they seem to be the expensive costs)

Just had a garage bill of near on £1k. (Mot, two tyres, brake discs, service, oil change) so sounds a good idea. Thats not including the normal monthly stuff like insurance, break down, tax etc.

But hopefully next years MOT won't be as painful!

Make sure you claim it back on your tax return as an expenses

When he gets promoted / when we can afford -
We are guna,increase car fund to 200 a month

I do for vets fees. Fixed amount every month, as i self insure (indoor cats).

The only problem with having multiple, dedicated savings accounts (i.e. car, household, pets, birthdays/Christmas, holidays etc) is that if you get a bill which is greater than the balance in the account, would you "borrow," the balance from another account or just say "I can't afford it this month" and then not have access to the car for the rest of the month, despite having funds in a separate (non-car) account?
Even more complicated if savings are further divided into his/hers accounts (as seems to be the MN norm).

We just have single, easy access savings (PB's actually) which cover any contingency while other savings/investments are tied up.

I agree with @Nourishinghandcream we just have 'savings' and then the decision about how much to spend on repairing a car (or replacing it when the time comes) is separate, which is more about value for money/sensible spending.

The amount a car costs to run is more dependent on the type of car it is. My car is probably the 'as cheap as possible' variety as it's a very small petrol one and I bought it when it was 2 years old and I plan to keep it until it's old and worthless, so at least another 10/15 years, at which time I'm hoping I can use it towards the cost of a new/nearly new scrappage type trade in against a small electric car. In the meantime, servicing, tyres etc will cost a lot less than a large prestige model.

But I think with cars, you should likely think about having at least £1k pa available for servicing, insurance, tax, MOT and repairs and another £1k pa towards it's eventual replacement so you can buy without borrowing, but that's for a small cheap, second hand car. If you run something larger buy (nearly) new and change frequently, you'd probably need to at least double those numbers and then you're into considering what you'd rather spend your money on if you don't have enough for all the different things you want (nicer car, more savings, holidays, hobbies, day to day non essential spending like coffees, lunches etc).

I don't have multiple dedicated savings accounts, but I do keep track of what I'm saving for, how much allocated/spent but it all ends up in the same account.

So for e.g. my savings budget would be:
£150 car
£200 holiday
£75 clothes
£50 Xmas
£100 house maintenance costs
£50 vets bills

Then if something happens like we need to spend extra money on fixing the car (beyond what we had budgeted) it would be 'borrowed' from the holiday savings, and we would go on a cheaper holiday that year etc.

But likewise, I know I'm putting £75 aside for clothes, so when we need new winter boots, I know I've been savings towards it and don't feel guilty for spending the money, but also stay within budget and don't spend any excess savings on them.

I've found this works for me and DH, we like to have a plan for every penny we earn.

It works for me to have multiple savings pots for different things (easy with Monzo). Some are to spread the cost of relatively known expenses over the year (insurance, tv licence etc). Some are more hard to predict eg I have a gadgets pot for new phone or laptop when I need one (which isn’t until the old one breaks or gets v v old).

Sometimes if I have an unexpectedly high cost in one area but it looks like I have a surplus elsewhere I might take from the ‘wrong’ pot. But this helps me be clearer what is being spent on what and eg if there’s no money in the clothes pot then new clothes have to wait.