to dip into one's savings - Glite Dictionary

Examples

In a small, exclusive sports store in the East 70's, she finally finds what she's searching for: a pair of jodhpurs and some handsome leather boots (that she has to dip into her savings to pay for).

Fiction book (2001)
In order to cover the unexpected medical expenses, she had no choice but to dip into her savings.
He decided to dip into his savings to afford a new laptop for his studies.
After losing his job, John had to dip into his savings to pay his rent for the next month.

Synonyms

to dip

vsto dip into one's savings

26 5.1

To take a small amount from savings or reserves

uses money kept for later use for particular needs or emergencies

to dip into

vsto dip into one's savings

4 4.0

Use a small amount of money or other resource for a short time

takes money kept for later use for a specific purpose or an emergency

to put one's hand in one's pocket

vsto dip into one's savings

8.1

To give money willingly, often when it is not needed

uses money kept for later use for a specific need or in emergencies

Antonyms

to save

842 1.0

Prevent the need to spend time or money

to save money

257 1.3

To put money aside instead of spending it now

How Much

to fatten up savings

4.4

to save money

257 1.3

to dip into one's savings

1 4.1

Surface Forms

dip into one's savings infinitive

dipped into one's savings past

dipped into one's savings past participle

dipping into one's savings present participle

dips into one's savings third person singular

Morphology

dip + into + one + savings

The meaning — taking and using some of one’s saved money — is directly derivable from the parts: 'dip' (take a small amount), 'into' (move into), and 'savings' (money set aside). This is a common, slightly metaphorical but predictable compositional pattern (cf. many languages' equivalents), so a B1 learner who knows the words will likely understand it.

Etymology

Dip into one's savings comes from the image of putting a hand into a jar or a piggy bank to dip out a little money. So it means 'to use some of the money you have put aside'.