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 ?
If I were in your friend's shoes, I would explore various avenues to support my family. This may include looking for new job opportunities, starting a business on the side, reskilling or acquiring new skills to enhance employability, cutting down on expenses, or seeking financial assistance from family and friends.
As a friend, you are doing the right thing by supporting and helping him as much as you can. You can also provide emotional support by listening and offering words of encouragement during this tough time.
Additionally, it's wise to prepare for the unexpected challenges in life by saving more money and investing in assets that can provide protection against inflation. It's always better to be proactive and prepared than to wait for things to happen and then react.