Try to save money while you still can, will you ?

[CODE200]

Don't wait for inflation to happen to save, but save every day, every month, every year... save not only to deal with inflation but also to prevent emergencies. But saving will not help you have a better life in the future when inflation is higher. In addition to saving, you need investments to increase wealth, investing is the best way to fight inflation.

Tell your friend not to get discouraged but to find another job because if he hesitates, it will only make his financial situation worse. When one door closes, another door opens.

Exactly, saving is not situational. For me, it is a must for our own good as well. You will save not only for yourself but for the people that you love if you don't want to be surprised when an emergency comes into your life. It's still better to start saving day by day, even in a small amount, as long as you keep doing it everyday, it will be fruitful in the end. Investment is a good one also. Try to look for investment that is not only for the short term but for the long term that will give benefits to you.
Go and encourage your friend to not easily give up. Not all your plans will happen the way you think they are. Just look what happened to him. He didn't expect inflation would come to the point that it could affect his work. He became complacent about what he had. Go look for a job. There are lots of jobs out there. He just has to move forward to look for it as it will not come easily if he doesn't do anything.

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[ringgo96]

when our work is still running smoothly then that's when we must be ready to make a savings for the future, because there is a time when we will part with the work we are currently living, as happened to your friend then now he should be able to open a new business with savings that have been saved for a decade, if he doesn't have savings then he is currently going through a difficult time if hoping for help from others is certainly very difficult, so as you said earlier we have to be good at saving money while still can.

[19Nov16]

Saving is an important thing to make us survive, especially now that almost everything has to be exchanged for money so without saving it will be difficult for us, of course if we have big money then don't keep everything in the bank, using 30% for investment is the right thing to do the good thing, and the current trend that is profitable is investing in bitcoin or altcoins.

[Smack That Ace]

Did your friend not get severance pay when he was kicked out of the company? I think that money is enough to survive until he finds another income.
Unexpected funds must be prepared properly not only at a time when you are feeling difficult, now you have an awareness of this (learning from seeing other people) that is a good thing, but you also have to pay attention to the many sectors that must be fulfilled to deal with these difficulties, such as in the need for health insurance, food, and other needs, you must classify it to be safer so that the budget you make meets your needs too.
I myself have that. I deliberately classify funds for things that are unexpected for me to be calmer and so that there is no accumulation in one container.

Sadly there are few companies in my country that offer severance pay. My friend is definitely not entitled to that benefit, even for working for so long. Having no savings makes his financial condition even worse. Now he has to provide for his wife and daughter, sometimes his parents included. How can he survive without income for long ? I am trying my best to help him find a job and also lend him some money to get through the tough time.

He has no choice but to find a new job and do more than others if he wants to survive. But find him a job with full severance pay, I'm really bewildered when a person works so long without receiving unemployment benefits. It sounds strange since it's not a small amount.

It's a good thing to lend him money, but don't lend him too much. I mean, I'm not afraid he won't pay, but when he has a lot of money, I'm worried he won't get a job soon.

[Queentoshi]

when our work is still running smoothly then that's when we must be ready to make a savings for the future, because there is a time when we will part with the work we are currently living, as happened to your friend then now he should be able to open a new business with savings that have been saved for a decade, if he doesn't have savings then he is currently going through a difficult time if hoping for help from others is certainly very difficult, so as you said earlier we have to be good at saving money while still can.

The major road to success is knowing how to save, avoid unnecessary spending, saving is not that easy it involves, self control and being discipline,  most people today forget to save and once anything happen to there job they go broke over night, save why you can and not just saving, but save to invest for future sake, because you can't work forever, there will always come a time that you can work anymore, at that point in time your investment will be where you can be relying on to survive and take there of your expenses.

[Solosanz]

If you're want to help him then you can, but personally I wouldn't always help him because he will be depends on me about financial and not want to get a job since he can easily ask me for money. Everyone should save their money because you wouldn't know what will happen to you in the future, just like your friends. Even you're already become an employee, there's no guarantee the company will survive forever.

[ethereumhunter]

It also happens in other countries, including mine. The cost of living is increasing and affecting the prices in the shops, so we have to spend more money than before.

If I were him, I would still try to work and be able to make money, somehow and I'm sure I can get some money to take home with me. Many people have experienced something like that and as I said, people still work hard to make money.

And I agree with your idea of saving more money to prepare for the unexpected challenges ahead. And I've been doing it for a few years and with the help of crypto, I'm still saving in crypto/bitcoin.

[dimonstration]

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 ?

Find a new job abroad if there’s no job vacancy in your country. Having a 10 years experience will easily gave him a golden ticket for a job opportunity abroad that still looking for workers like Canada, Singapore and Australia. Also since he get fired, He will surely get a separation fee that he can use to start business or for requirements for a new job.

This is the common mistake of people that prisoner of employment. They become attach to the current job which result to unpreparedness for jobless. If I’m in his position, I’m probably on the competitor company applying on the same job that I’m doing the moment my company close.

[TribalBob]

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 ?

actually saving has been taught since we were small, the purpose of saving is to cover the cost of living which has become a minus because of one thing, yes, like current inflation, saving in small amounts or as much as we can, don't force it to reduce our daily food allowance just because we want to save money

[serveria.com]

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 ?

Saving is always a good idea as life is unpredictable: you can lose your job or your business (even if you're really well-off). As to your friend's situation, I'm not sure if he's got any savings or not, and if yes, how big? Starting his own business is one opportunity, but he'd need some money for initial investment. I realize that not everyone is meant to be an entrepreneur, so he can just apply for similar jobs near him and meanwhile do some of those side hustles so popular now (Uber driver, food delivery etc).

[AnonBitCoiner]

n some countries there is a retirement money given to the retired person if he work for more than ten years so he can easily manage the risk if suddenly arises due to any reason. But If your friend did not get it so may be he is not in such country or may be his service is not so long.

In this circumstances I will recommended that a person should save a small portion of money on monthly basis in his salary if unfortunately such conditions arises so there will be opportunity to start another small business on this sum of money.

It's true that future is unpredictable but person should remember that anything can happen anytime in life so we all should be prepared for that situations if we faces such situations suddenly then what will we do? We cannot do anything without money so saving is important, I don't say that save overall sum but little bit amount should be save for future goals.

[alastantiger]

Preparing for the future as a man is one of the best plan you can think of. Someone who is earning a daily, weekly or monthly salary should have it in mind to save for the future because anything can happen at any point in time. To avoid being stranded you need to save. And one of the best way to secure your future is by investing. Bitcoin investment is one good way of preparing for the future. Some people may want to buy shares in bank, some would want to just save it in bank, while some will invest while they are still earning salary. To me, i will rather invest in bitcoin because in years to come, the profit will be massive.
There is an adage that says "Make hays while sun shine". Anyone who fails to plan his or her future is automatically planning to fail. I will and am already saving for the future by investing a portion of my earnings in bitcoin.
I would advice that anybody that has the opportunity to save either by investing should not hesitate.

[fadhilz123]

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 ?

I also save for myself and also for the survival of my family in this very difficult time, because there really is no other choice but to continue working and earn income which I then set aside a little to save in preparation for facing difficult times. Because someone who doesn't work in conditions like today will be very complicated to live his life, so if you want to help your friend to get out of the difficulties he is facing now, try to give him a more decent job so he can live with enthusiasm like before Again.

[Bestdss]

Saving money should be an integral part of everyone. Saving helps alot and people needs discipline to be able to save money. No matter how small you make from business or job, you should be able to reserve a little. Many people find it difficult to save because they don't have saving patterns, you can decide to save with co-operative institutions, banks, social clubs or any financial institutions paying the agreed amount of ur savings either weekly, monthly or daily to be accumulated for a period of time, that way when it's time to take back your savings, you can use it to achieve something tangible.

[Bollexz1]

Quite sorry for your friend but how can an employee work for a decade and not have a proper way of money management? From my philosophy, savings only won't help in this era we live in but rather having the mind to invest.

[tjtonmoy]

It is always a good decision to save for your future. No one knows what to come in the future, and a situation like this could come at any moment. So we need to prepare ourselves. Make a plan and stick to it no matter what. This should do just fine as we are going to be prepared if anything bad ever happens.
For me, I try to save just what I think I need for my future. Not much, not less. That way I can live my daily life in peace and also won't have to worry about the future either.

[molsewid]

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 ?

Hmm i think in a country like what we have saving money is not enough, everyone should learn to increase their savings by investment or businesses, but the thing is financial literacy in here is not well practiced. Inflation is hitting us each day given that recession is not yet happen but still it is too painful to work with only 1 job now, me myself decrease my sleep so that I can still have part time job to do.

[isaac_clarke22]

~

For starters, I would immediately look for job obviously. That is where savings and/or our emergency funds come into place. Also consider filing for an unemployment since there are also unemployment benefits (depending on where he resides) and that might at least help him and his family.

For me, I would just keep on saving and just avoid spending on unnecessary stuff when I know that I am going to be lower than my tolerable saving amount. It is just a matter of having a peace of mind ya know and no, I am not going to sign up for credit cards for my wants.

[Zlantann]

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 ?

I have been on a job that the monthly pay hardly covers my two weeks expenses. The salary was too poor that I have to buy things on credit to survive. In this my situation, my sole aim for the month is not to save but to survive. I don't expect everybody to have savings because our incomes are different and we live in different parts of the world. In an ideal situation your friend was suppose to be given a lump sum of money by the company to enable him start something profitable. But in most countries employers can sack their staff without notice or compensation.

Planning and saving for the future is very important. But people prefer to use their money for luxuries instead of savings. Some of them prefer to pay high house rent in highbrow areas instead of buying a cheaper one in the outskirt of the city. Some also prefer to send their children to very expensive schools, instead of moderate schools that will help them save for the future. No matter how small, it is important to set aside funds maybe weekly or monthly for the future.

[Mate2237]

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 the inflation in your country is not high then the country's economy would have been normal. Every country is control by the national resources and national resources are from the national economy, so why things are still difficult for the citizens. If the price of goods and services are in the increasing side then the inflation in the country is also very high. The inflation of a country determine the prices of things.

If your friend lost his job because of the inflation then the government policy is the one affecting the various sectors of the Economy. But that will also depends on the sector. It is a private or public sector? Or the both as PPP. Public Private Partnership?