Should I Use Emergency funds or Sell my Assets ?

[|MINER|]

I reluctantly followed the counsel of a financial advisor to fix my finances in order by creating a budget and tracking my expenses, inflow and outflow of cash using an excel sheet. The economy has been crazy in my country so I needed to do something urgently. My greatest realization after this is that inflation all round is destroying my budget. It's been  five months now. I am torn between using my emergency funds or selling some of my assets to cushion the effect of this economic situation. What do you suggest I do?

There is no guarantee that a financial advisor's advice will always be correct. And the reason for this is the economic condition of the entire country. The situation you are in now is really a difficult situation but I think in this situation you should continue to hold the assets you hold and use the emergency funds. That's because not going to the strategy in which the assets are being held means loss. So overall I would say try to use emergency funds and look for alternatives.

[1714948314]

1714948314

[1714948314]

1714948314

[1714948314]

1714948314

[usekevin]

Don’t sell the assets,because once you sell the assets.It’s hard to buy again with the cheap price.The demand for the crypto currency was huge now.So the price of stable coin will keep increasing and doesn’t reduce to the low price.Instead of selling the valuable coins,you can use the emergency funds and leave the same funds from the profit of your holding assets.

[MFahad]

If you can find additional job that will pay you more income, then do it first. Do not just touch your emergency funds nor selling some of your assets as they might be more needed in the future. For now, study more some of your hidden talents and skills as they can be of great help so you can gain additional income for you. And try to live simply away from luxuries and expensive lifestyle, that will help you a lot to save if you have extra money.

Yes it's a good option to select another job if your income is not enough for daily expenses but if you are selling your asset or use your emergency funds for daily expenses then it will become very hard for you to sustain life expenses without taking loan.

Focus on expenses because if you spend more money than the amount you earn then it is also not a good habit. I think if you cannot afford to live a wealthy life then try to live a simple life this will help you wealthy and will enhance the chances of saving more money for your future.

I know one cannot maintain two jobs because of physical tiredness but it is possible to continue your online job as it doesn't require your presence physically. So try to be involved in two jobs at same time and try to reduce your expenses it will be a great way for you to complete your responsibilities easily and will avoid using emergency fund and selling any asset.

[MiF]

I reluctantly followed the counsel of a financial advisor to fix my finances in order by creating a budget and tracking my expenses, inflow and outflow of cash using an excel sheet. The economy has been crazy in my country so I needed to do something urgently. My greatest realization after this is that inflation all round is destroying my budget. It's been  five months now. I am torn between using my emergency funds or selling some of my assets to cushion the effect of this economic situation. What do you suggest I do?

Emergency funds is very important and if you have another way to get money then you have to save your emergency funds if you have many assets then i think selling one of it is not that difficult if you are in the most hard situation something like if you don't sell assets you also didn't have a food to eat or you can't buy your daily needs or basic necessities.

[Bushdark]

Don’t sell the assets,because once you sell the assets.It’s hard to buy again with the cheap price.The demand for the crypto currency was huge now.So the price of stable coin will keep increasing and doesn’t reduce to the low price.Instead of selling the valuable coins,you can use the emergency funds and leave the same funds from the profit of your holding assets.

Op need to understand that inflation is increasing everytime and this is happening to every business man so we need to look for a way to make sure that we can minimize the method and ways we buy goods to enhance some profits. If it is very crucial to touch the saving to meet up with the necessary move, that's good to make things keep going. Everything is becoming expensive now and there is nothing we can do since the government can not make amendment thay will make life easier for the masses to spend less in the business and earn some profits. Now it is difficult to make good profits from business because of inflation.

[tjtonmoy]

What do you suggest I do?

If possible, find more ways to increase your income. If you stick to one thing and hope for the best, that day will never come. At least is a situation where inflation is happening like this all over the world. As for inflation, once it happens, it never goes back to being normal again. In the next inflation, it will be much worse than this time. Try to increase your way of earning or find something that offers you more than you are making right now. Or find a side hustle that will give you some extra income.
You can also try to invest in something by saving up for that from your current budget. If you keep the money as it is, in time it will lose its value and in a situation like this, it will be difficult to deal with. Money brings more money. If you know how to do it.

About the fact of using emergency funds. I am sure you have saved it up for some situations like this. If you keep holding on to something that is meant to be used in this kind of situation, then when will it be useful? I am not saying that you should keep on spending them. But make sure to live your life normally and save something from that which will be helpful in the future. Or use some from that to invest in something. Necessity is the mother of invention. Just like that, need in the mother of one's income. If you are in need, you will seek out different things in order to make income. Or in your situation, seek out more ways to increase it. So try to find more ways and keep on it until you find success. Until then, keep a tight budget for your spending.

[irhact]

Inflation is really making many terrible financial experience and forcing financial decisions. Do not sell off assets, they are meant to bring you money. Instead use up some emergency funds to find balance because the situation you are in is close to an emergency. Reduce the money you set aside for emergencies for the time being so you can have enough spare cash to fix into other budgets that inflation has raised the price of. If you sell assets, it is not a permanent solution to this challenge.

If you don't keep enough money for emergency by increasing the amount you keep for emergency instead of reducing it then you won't have a better amount reserved that can help you out when you enter problem as the OP is asking about. When you keep more money with you, you might spend then unnecessary because there's always bills to sort out everyday. Instead of doing what you're saying I'll say we should saved more.

Nobody plans for emergency but when it happens we have to be prepared and ready for it and you can only be ready by having enough money reserved to handle the problem. We should also invest into profitable assets like Bitcoin that'll generate more Income for us.

[serjent05]

It's been  five months now. I am torn between using my emergency funds or selling some of my assets to cushion the effect of this economic situation. What do you suggest I do?

I would say that you should check first the potential of your asset, if your asset is giving you profit then don't sell it and better use your emergency fund since it can be replenished by the profit of your asset.  But, if your asset is just idling, and does not give you any profit then it is not bad idea if you sell them.  You can always buy the same asset once you have a better income in the future.

[Lorence.xD]

It's been  five months now. I am torn between using my emergency funds or selling some of my assets to cushion the effect of this economic situation. What do you suggest I do?

I would say that you should check first the potential of your asset, if your asset is giving you profit then don't sell it and better use your emergency fund since it can be replenished by the profit of your asset.  But, if your asset is just idling, and does not give you any profit then it is not bad idea if you sell them.  You can always buy the same asset once you have a better income in the future.

Yes, always double check what would be the outcome of the decision you will be making like you said. I think if you already have profit or you could say passive income, why not use it for investment since it's like a spare money. Don't forget that emergency funds is important for every happenings in life so just simply using it at risky scenario wouldn't be a good idea at all. If you're profiting enough just 50/50 it.

[Framelover]

I reluctantly followed the counsel of a financial advisor to fix my finances in order by creating a budget and tracking my expenses, inflow and outflow of cash using an excel sheet. The economy has been crazy in my country so I needed to do something urgently. My greatest realization after this is that inflation all round is destroying my budget. It's been  five months now. I am torn between using my emergency funds or selling some of my assets to cushion the effect of this economic situation. What do you suggest I do?

Instead of immediately dipping into your emergency funds or selling assets, explore alternative ways to generate additional income. Look for potential side hustles, freelance opportunities, or creative projects that align with your skills and interests. Consider exploring investment opportunities that may offer better returns. Remember, adaptability and creativity are key during uncertain times. Diversifying your income streams can help offset the impact of inflation and provide more financial stability. Remember, individuals financial situation is unique, and as such you should tailor these suggestions to fit your needs and goals.

[fuguebtc]

I reluctantly followed the counsel of a financial advisor to fix my finances in order by creating a budget and tracking my expenses, inflow and outflow of cash using an excel sheet. The economy has been crazy in my country so I needed to do something urgently. My greatest realization after this is that inflation all round is destroying my budget. It's been  five months now. I am torn between using my emergency funds or selling some of my assets to cushion the effect of this economic situation. What do you suggest I do?

Instead of immediately dipping into your emergency funds or selling assets, explore alternative ways to generate additional income. Look for potential side hustles, freelance opportunities, or creative projects that align with your skills and interests. Consider exploring investment opportunities that may offer better returns. Remember, adaptability and creativity are key during uncertain times. Diversifying your income streams can help offset the impact of inflation and provide more financial stability. Remember, individuals financial situation is unique, and as such you should tailor these suggestions to fit your needs and goals.

He already has an emergency and asset fund, so I think he already knows what you mentioned because if he had the opportunity to earn extra income, he would never have decided to use the fund emergency or property sale. It can be said that this is a reluctant decision when we do not have a better solution.

OP, between the choice between an emergency fund and an asset sale, I would think of an emergency fund because that is the mission it was created for. You shouldn't even think about selling an asset when you still have other options, no matter what it is, selling during an economic crisis is always a bad idea because its value is plummeting.

[Gladitorcomeback]

I am torn between using my emergency funds or selling some of my assets to cushion the effect of this economic situation. What do you suggest I do?

I will recommend to use emergency fund for fighting against this situation. Emergency funds are there to be used when needed , if you not use in this situation am then i am not seeing any better situation to use it. another option is asset selling but i will recommend to sell only those asset you believe that its price will not increase high in year because some asset are so worthy like land in our country. Also try to earn online by doing some skill work or trading as the value of usdt is high and you will get high payment than your fiat.

[Fakhrulenclix]

I am torn between using my emergency funds or selling some of my assets to cushion the effect of this economic situation. What do you suggest I do?

I will recommend to use emergency fund for fighting against this situation. Emergency funds are there to be used when needed , if you not use in this situation am then i am not seeing any better situation to use it. another option is asset selling but i will recommend to sell only those asset you believe that its price will not increase high in year because some asset are so worthy like land in our country. Also try to earn online by doing some skill work or trading as the value of usdt is high and you will get high payment than your fiat.

That's right, it's at a time like this that an emergency fund is needed and we set up an emergency fund for this kind of thing, compared to selling assets I think it's very ineffective, selling assets is not for reasons of improving the economy but selling assets when you already have a large or sufficient profit.
Assets may have better prospects in the future, so it would be a shame if they had to be sold just to reduce the impact of this economic situation, while there is no possibility for emergency funds in the future, we can still prepare them again when the situation recovers later.

[ringgo96]

Economic problems have always haunted us, especially now that the financial situation is getting worse and those of us who have assets certainly have to make considerations to use these funds, if that has become the only way we have to do, then just sell the assets you have so that your problems are quickly resolved and later you have to find a way so that everything you spend now you can have back, Because right now it is indeed in a difficult situation.

[Pamadar]

Economic problems have always haunted us, especially now that the financial situation is getting worse and those of us who have assets certainly have to make considerations to use these funds, if that has become the only way we have to do, then just sell the assets you have so that your problems are quickly resolved and later you have to find a way so that everything you spend now you can have back, Because right now it is indeed in a difficult situation.

You need to sort all the venues that you have as an alternative to survive.

To the point that you'll sell your reserves, it might be difficult, but taking your decision will vary in how the needs you should
take care of, assets or savings both have the risk when taking it out of your holdings, but the fact that you need to
carry is on how you can replace it when you get the chance.

[CageMabok]

Economic problems have always haunted us, especially now that the financial situation is getting worse and those of us who have assets certainly have to make considerations to use these funds, if that has become the only way we have to do, then just sell the assets you have so that your problems are quickly resolved and later you have to find a way so that everything you spend now you can have back, Because right now it is indeed in a difficult situation.

I don't think that's a good solution, because you also have to provide a more direct or more precise explanation of what situation is currently difficult? Because as long as there are ways and ways that can be taken to solve the problem, I don't think a person should immediately sacrifice the assets that he currently owns because getting back the assets that have been sold is also not easy. So this must really be considered wisely before he sells it, and besides what is it that is giving him trouble? Meanwhile, market conditions and the crypto space are much better now.

[posi]

Economic problems have always haunted us, especially now that the financial situation is getting worse and those of us who have assets certainly have to make considerations to use these funds, if that has become the only way we have to do, then just sell the assets you have so that your problems are quickly resolved and later you have to find a way so that everything you spend now you can have back, Because right now it is indeed in a difficult situation.

I don't think that's a good solution, because you also have to provide a more direct or more precise explanation of what situation is currently difficult? Because as long as there are ways and ways that can be taken to solve the problem, I don't think a person should immediately sacrifice the assets that he currently owns because getting back the assets that have been sold is also not easy. So this must really be considered wisely before he sells it, and besides what is it that is giving him trouble? Meanwhile, market conditions and the crypto space are much better now.

I agree, selling property needs to be considered carefully, we should find all other ways before thinking about selling our property because selling is easy, but buying back is not easy. Especially assets that increase in value over time, like gold, real estate, or bitcoin. But in OP's case, he has emergency funds, why not use them instead of thinking about selling the property? Let's make a comparison, and it can be easily seen that creating an emergency fund will be much easier than buying property. OP, you should carefully consider everything before making a final decision.

[erep]

I agree, selling property needs to be considered carefully, we should find all other ways before thinking about selling our property because selling is easy, but buying back is not easy. Especially assets that increase in value over time, like gold, real estate, or bitcoin. But in OP's case, he has emergency funds, why not use them instead of thinking about selling the property? Let's make a comparison, and it can be easily seen that creating an emergency fund will be much easier than buying property. OP, you should carefully consider everything before making a final decision.

Diverting funds from selling investment properties to other investments is very ineffective because we cannot afford to buy the same property due to property prices increasing every year, OP needs to consider that each type of property generates promising profits for the long term, but if we still have alternative options to use allocation from an emergency fund so we can use it to add to other investments instead of keeping emergency funds in fiat, my suggestion is that emergency funds are better diverted to gold or bitcoin investments which are easy to exchange with fiat whenever we need those funds for urgent needs.

[uchegod-21]

I reluctantly followed the counsel of a financial advisor to fix my finances in order by creating a budget and tracking my expenses, inflow and outflow of cash using an excel sheet. The economy has been crazy in my country so I needed to do something urgently. My greatest realization after this is that inflation all round is destroying my budget. It's been  five months now. I am torn between using my emergency funds or selling some of my assets to cushion the effect of this economic situation. What do you suggest I do?

I simply believe that an emergency fund should be kept only for an emergency. Inflation in your country, which is also a global inflation cannot be said to be an emergency.
The second option which is to sell some of your assets might be preferable. But then you should not sell what you think that will worth more in the future.

There are some assets which we have at home that e do not have very severe need of but we keep them for decoration and maybe you for aesthetics purposes.
If you have such assets, you can sell them and reinvest the found, while having money to also sustain yourself and your family. Keep the emergency fund strictly for emergency.

[lizarder]

I reluctantly followed the counsel of a financial advisor to fix my finances in order by creating a budget and tracking my expenses, inflow and outflow of cash using an excel sheet. The economy has been crazy in my country so I needed to do something urgently. My greatest realization after this is that inflation all round is destroying my budget. It's been  five months now. I am torn between using my emergency funds or selling some of my assets to cushion the effect of this economic situation. What do you suggest I do?

Why should you sell your assets when there is an emergency fund available that you can use for your daily needs? The reality is that almost all countries are experiencing inflation and making it difficult for people to make ends meet. If I have an emergency fund saved in a savings account, then I will not decide to sell the existing assets because if I hold bitcoins it is very likely that ATH is so close and it is hoped that it will bring big profits from these assets.

It's simple you can use an emergency fund first and don't need to sell the assets you have to meet your daily needs. Selling the assets you have now also doesn't make you improve your finances and instead you lose the opportunity to make big profits when the time is right.