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 dont know the country you are from, but if i am not advice you based on my current experience over here in my country, first, it all depends on the type of assets you have..
is it bitcoin and other types of cryptocurrencies?
Or is the asset a landed property like in real estate or so ?
Is bonds or company shares and so on ?
For me, if the asset is either in bitcoin or real estate, i will advice to use your emergency funds to cushion the effect of the economic inflation in your country if you must, leave your assets alone, those assets might be your savior in the future if eventually the economic situation fail to get better for whatever reason.
And also remember, In a country facing economic crises, the worst mistake any body can make is to save in that countries fiat, save money in assets like Bitcoin, lands and so on.