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dip into savings

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dip into one's savings
Fig. to take out part of the money one has been saving. (See also dip in(to something).) I had to dip into my savings in order to pay for my vacation. I went to the bank and dipped into savings. There wasn't much left.
See also: dip, saving


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I was having to dip into savings for everything from groceries to my daughter?
Sixty-nine percent planned to dip into savings to pay for their projects, 23 percent said they'd use a tax refund, and 17 percent said they'd use their credit cards.
This may be true, but beware of basing your market size estimates for a new facility on the assumption that residents will dip into savings to pay their initial monthly fees.
 
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