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 there is inflation in your region, it means that the value of the money has been lost. It is not enough to save your salary or earnings to maintain the value of money. For example, if the dollar is rising in your country, you should buy dollars as soon as you receive your salary so that the value of the money does not decrease. This was the simplest example. You can apply this example according to your region.
We should always have savings for bad situations. Something like this happened to someone from your close circle and you should learn from it. A small investment must be made. Small and regular investments can be the insurance of our lives.
It is a good idea to save as much money as you could. But most of the time people do that when they go through some trouble