Consumption smoothing is the practice of optimizing our standard of living by ensuring a proper balance between spending and saving during the different phases of our lives. Those who overspend and put off saving for retirement to enjoy a higher standard of living often have to work longer or reduce their standard of living in retirement. Those who over-save will live a more frugal lifestyle while working to enjoy a better lifestyle while retired.
In each case, the overall standard of living is less than optimal.
Now, how helpful could this be during times of inflation?
At any phase in our lives, we really need to have balance, our spending vs consumption and then on the other hand saving for the future, at least in the next 10-20 years and built generational wealth. Of course, we can't discount the fact that inflation it's effect? it erodes the purchasing power of our money. But at least if you have said enough and really knows a thing or two about financials it won't affect you in the long run and you could retired with your money still has that value despite the inflation. So moral lesson here? Start to invest at a young age so that when you gets old you will enjoy your life to the fullest regardless of the current economic situation on the country that you live in.
I get your moral lesson really well, investing from a young age might seem risky for some people (reasons best known to them). I for a fact have started my investment journey, it doesn't matter the risks, everything has its risks but the goal is to be able to live a well enough life even at times of inflation and also like you said build generational wealth. It is said that if you plan well and do your best, you will succeed. I pray we all succeed.