Even though I’m a big proponent of investing for financial independence, having a savings account always comes in handy. You can save for an emergency fund, or for a nice big vacation. Anyway, savings are still relevant.
In his book “Set for Life”, Scott Trench talks about starting your path to financial freedom by saving up 25,000 dollars.
This money will provide you with options and opportunities. You don’t really have to invest much at this point. Just saving up a big pile of cold hard cash already helps you tremendously.
Now, you don’t have to save 25k necessarily, but it’s good to have some amount of money as your goal. Then, you build habits into your life to be able to save this target amount. From there, you have options.