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?
Before you use your emergency funds or sell your assets, determine first the gravity of the situation economically.
Personally, I would always prefer to first use my emergency funds before selling my assets. Assets, in general, have a value that may increment annually depending on which kind of asset. If such asset is a land, then its value may appreciate. But if your asset is a car which the value depreciates as time passes by, determine the need of such situation.
Emergency funds are created in order to answer for whatever kind of emergency you deemed fit. If the purpose for selling it is due to some minor reason, then feel free to do so. But I personally suggest to only sell your assets if your emergency funds are already exhausted.