My view is that some savings allow you to take more risky decisions. E.g. if you know, you can survive the next 2 months without your current job, you'll be more confident to apply for a better one elsewhere with less commuting, more remote work, better benefits, more freetime etc.

Satisfaction from consumption to cope for a bad mood is almost never healthy. Being it drugs, binge eating or shopping. It leads to a short term release of dopamine that won't last long and that might be even follwed by regret.

Not saying one should never buy anything except the absolutely necessary. But "I feel bad, so I should buy me a treat" is not the way. Go outside for a walk, spend time with people, do some sports, get into arts, visit a public library... There are many hobbies you can do on a budget that will have a more lasting effect on your mental health. :)