£1150 at a savings rate of 4.75% (pretty easy to get now) would be:
£1204.62 next year.
£1261.84 year 2
£1321.78 year 3
In year 3 with a broken strap, biro marks and the marks of use, the perpetually available bayswater might be worth £50 max if the person buying it is not in need of a strap and likes pen graffiti.
So we've bought the bag to shield us from, ironically, the poverty of overconsumption.
Make it, make sense.
Though, for anyone who may have a little spare they could save, or a smol lump, look at the regular savings accounts which are paying in some cases 6-7% pa. They don't mount up quick because of the smol savings limits but it's a fab rate. Even if you manage to get yourself £1000 of emergency fund saved, and got a 4.8% rate, you'd be paid £48 a year interest, which works out as £4 a month "salary" that some money is earning for you. No effort on your part. Even if you had £500, enough for a new emergency washing machine, it would earn you £2 a month. For sitting there waiting for a crisis to help with. These aren't huge numbers, but they get really useful if you can keep it adding more over time. If you had £10k saved, you could be getting £40 a month for nothing. It's like an imaginary worker doing an extra minimum wage half day a month for you. I find it very motivating. You can start with £10 if that's all there is spare.