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).