Almost every country is now suffering economically due to which people's cost of living is increasing day by day and various companies have laid off their employees.If I were in his place it would be really difficult for me to manage life. Those who have no earning source know how hard life is, life of men without job is very miserable.Saving is a very important thing in people's life, those who have no savings understand how important saving is at some point.So every one of us should save money effectively in this case we need to save in some way from our needs.
Savings are necessary but won't be enough to get you through a period of unemployment because if you don't get a job soon, those savings will quickly be used up. Besides saving, I think any man should have an investment because investing in it can help us increase the amount over time, not standing still like saving. That will help a lot if one day we are unemployed, but investment is risky so be careful in choosing assets to invest.
No matter how significant the savings are, sooner or later it will end. My attitude to monetary savings is positive, but in my opinion, this should not be 100% relied upon, because inflation is merciless to such forms of savings. Otherwise, things are with investment. There is an opportunity to freeze inflation (for example, investing in gold), as well as an opportunity to overtake inflation (stock market or crypto market). But the side effect of all this will be risks. Therefore, I would single out another category - this is an investment in yourself, your knowledge and skills. Left without a job, new skills can allow you to survive a difficult period due to the opportunity to earn money in other directions. It may turn out that the return would even be higher if you were just trying to save this money (spent on obtaining new skills and abilities). So, investing in your own potential would be the smart way out.