Savings is good for emergency purposes but if you are Saving you can even split the money into two so that you can invest one part and then keep the other part for when you need money to attend to one or two emergency that way you can avoid borrowing. Because consistently borrowing money for emergency always is not advisable. Some people are still finding it very difficult to save for some various reasons so are use to spending on unnecessary things. You have to learn to remove your eyes from so many things. And sometimes luxury brings destruction because you will always want to get everything.
The better we start measuring money the better because if things is not the same anymore now expenses have increased because of inflation so we just have to find ways to increase how we make money and also reduce the way we spend that is the most important thing because if you don't learn to manage money you will always find your self in financial crisis.
It's true, it's best not to live in debt because debt usually makes us feel uneasy. If you only borrow money once for an emergency, maybe it won't be a problem, but don't make it a habit to borrow money when you're in an emergency, when The situation is better, we must be able to try to make more money and be able to set aside some money for savings because by having money saved, one of the goals is to handle emergencies that occur. although there are people who are still not used to saving because they only think about temporary styles. and I think this happens a lot with young people who are carried away by their social environment which demands everything that is luxurious.
It's true what you said, if we don't learn or can't manage our finances well then it's likely that we will only experience a financial crisis and that can apply in the long term, which can also involve us borrowing money when we are in a state of financial crisis. Therefore, it is very important to be able to manage finances well to prevent things from happening that could make us experience undesirable situations.
Forget that "avoiding debt" nonsense; that's the bare minimum. Building a strong financial fortress is like a middle finger to future economic meltdowns. I said it. It's crazy that so many of us live paycheck-to-paycheck and regard our savings accounts like piggy banks. We should invest that money in several revenue streams. Not simply a side gig, but a diverse portfolio of investments that generate cash flow even when the world falls apart
Traditional views of savings as a "emergency fund" are holding us back. Man, life is too short to be cheap. Our future empire should start with funds. If we taught financial literacy this way, kids could be less afraid of money. Instead of preaching budgeting and debt repayment, we should educate children wealth creation. Imagine if every American child had the tools to succeed financially. That's my ideal future