In the informal settlements of Pune and Nairobi, access to formal financial institutions remains severely limited. In response, residents, particularly women, developed self-initiated savings systems to bridge financial gaps, support survival, and create platforms for civic engagement. Drawing from fieldwork, focus group discussions, and interviews, this study examines how community savings groups enable residents to navigate systemic inequalities in land tenure, housing, and access to basic services. By centering lived experiences, the paper argues that these initiatives go beyond providing household-level financial support; they foster broader social and economic resilience within informal settlements, have the potential to complement traditional institutional frameworks, and are a grounded strategy for addressing urban poverty across diverse contexts. The paper concludes by critically reflecting on whether savings groups should be strengthened as transformative institutions in their own right, or whether deeper structural reforms are necessary to address the underlying injustices that make them essential in the first place.