In the Sparkasse, we believe that there are different stages of savings. First, it is essential to have a minimum liquidity reserve, and to be flexible when it comes to financial emergencies. The recommendation is to have 2-3x your monthly income as a reserve.
The second stage concerns the coverage of life risks that can threaten your existence, such as occupational disability. This can be done by an insurance (if available in your country) or another saving-buffer.
The third stage is about providing for old age by saving for a private retirement or investing in property. The last step of savings is to build up wealth: When you have taken care of all the other stages, you can now focus on your wealth and build up your assets. But as with everything, success in saving money doesn't happen overnight. Slow and steady win the race. So, be patient and save as much as you can.