Well, the inflation in my country now is not extremely high but has already damaged the economy. The cost of living is increasing and does not seem to stop. Last week one of my friends lost his job after working in the same company for a decade. His life abruptly changed, putting him in a place where he could not support his family. If you were him, how would you survive this tough time ? As a friend, I am trying to help him as much as I can and meanwhile, I am planning to save more money to prepare for the unexpected challenges in my life. What about you ?
Saving money is very important while you are still working because of things like this we might not see coming. We have seen situations like this severely and it becomes difficult to cope when you no longer have monthly or weekly earnings coming in and you didn't have any savings. there is this popular rule,
50/30/20 rule]https://www.jobberman.com/discover/saving-before-30#:~:text=One%20formula%20to%20work%20with,15%25%20at%20the%20bare%20minimum.]50/30/20 rule so you can have something to fall back on while you search for another job.