Quote from: xSkylarx on Today at 05:36:16 AM

Quote from: jasonjm on Today at 02:01:37 AM

Quote from: mvdheuvel1983 on June 27, 2023, 07:23:13 AM

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?

Use your emergency funds that are there for this specific purpose. Because if you sell your asset at the moment when the market is not looking good, you might end up losing your potential profit in the future. As far as inflation is concerned, it is hitting everyone hard and has shaken the budget of every individual.

The purpose of Emergency funds really is for those situations when you need some money, which is why I don't understand why the OP thinks of selling his assets. Though it may not be enough or for other reasons, you shouldn't sell off your assets unless you have no other choice, like if you are in debt and still need money. Though it is still your money and your decision, follow others opinions here so that you won't regret it in the future.

Selling assets just for you to make some investment on crypto? Its not something that worth on doing so because if we do speak about assets these are the things that generates income unless if we do speak about posessions and properties then we could really be able to sell out without having those hesitance due to loss of revenue or income because these are called assets. We do know that cutting off or selling those wont really be that something that recommended because we could eventually make out some investment without needing on doing such step because as long we do have the income source on other ways or methods then we dont really need to do such step. As much as possible we should accumulate and make more assets rather than on selling it because the more assets we do have
the more income we could generate and the more money we could be able to make use if ever we do see some opportunities.

It is really just that here are business owners or individuals who are really just that too impulsive when it comes to opportunities and on the time that they would be able to see it
then they would be rushing up on making some decisions on which it isnt really that just wise anymore on doing so.