“If you don’t save at the right time, you will suffer at the wrong time,” warns the vernacular. He is right both when it comes to the reserves for (financially) bad times and when it comes to the right time to save. Because before you start saving, you should first check whether there are any more urgent financial matters to be dealt with.
Do you have the most important insurances?
What use is it to save tens or even hundreds of euros every month if suddenly a financially existence-threatening risk occurs against which one is not protected? For example, if you unintentionally cause very large damage without having taken out liability insurance? Then there is a risk of financial ruin in completely different dimensions and the laboriously saved financial cushion is nowhere near enough to prevent bankruptcy.
Do you still have debts?
What is the point of saving if the savings balance only earns measly interest but at the same time debts have to be paid off, for which much higher interest rates are due?