To cut the story short, I’m advising mostly the young people of our generation to save, avoid unnecessary spendings and save even if it’s so little, cause you might find yourself in a situation tomorrow and you wouldn’t want to call home or ask for help, cause you have a second choice, that means you are literally getting yourself out of a problem. So please it’s not too late to stop spending on things that doesn’t really matter, so basically the money you saved today could literally save you tomorrow.
I prefer to save a small percentage and much prefer to invest in assets that maintain value. Saving is not productive because money cannot produce income and instead money can depreciate over time. Even so, savings are very important because when we suddenly need them there is no need to sell the assets we have. Spending on something that is much more important and not prioritizing spending money on needs that are not urgent because this is the only way that can be done.
If we only rely on savings, it is not certain that we will be able to save ourselves in the long term amidst increasingly bad economic conditions because the price of goods continues to rise while money always depreciates. It is better to place money that is much more productive by buying several assets that have the power to maintain value. At least this can provide benefits in the future and we can take advantage of the investments we make.