Topic: Should I Use Emergency funds or Sell my Assets ? - page 8. (Read 1462 times)

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.

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.

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.

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.

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.

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.

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.

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.

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.

I think some are general suggestions and you should tailor them to your financial situation and do your research before making any decisions. Since everyone's personal financial situation is different, there is no single solution that works for everyone. Use that reserve fund first and reset the problems that appear and find solutions. But if you have assets that you don't need and can sell, you might consider selling them to create a backup source of cash. And try seeking advice from a financial professional to get the right solution for your financial situation.

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.

Admittedly, taking advantage of opportunities in life requires some risks. Using an emergency fund I think it's also good if it's done, where when someone is in a state of urgency, it calms the mind even if only for a moment. But here's the thing, One has to do everything and risk everything and sometimes it's not fair.

For me, it's better to use your emergency fund, that's why it's called an emergency fund because when you need it, you can use it. Don't trade or sell the assets that you hold because they are more valuable and you will benefit from them for life.

But if you are more enlightened by the financial advisor who gave advice, it is better to follow him, with the amount of experience he has, he will definitely give good advice and you will definitely improve that. However, the decision is still up to you mate.

He didn't mention to us that that emergency fund is dedicated to any other urgent matter, so it's hard to give exact advice. But if we have to choose between the two, using the emergency fund is a sure thing because selling the asset will lead to many problems, like we may have to sell at a loss or have difficulty buying back if their value suddenly increases...Selling property to cover a difficult life should only be considered when there is no other solution.

Yes indeed, by using your emergency fund to survive, just keep on trying to find ways in saving back.

Side hustle is something that will carry the load, if you have good skills, and you are willing to go out of your comfort zone
it will help a lot to survive and still live a life with a much decent style.

Your view point is very important in doing the decision if what will be the things that you'll going to sacrifice, with
a good judge you will be able to figure it out on your own interpretation.

Emergency funds are for things like this I don't understand why you are asking this question, what do you expect to use your emergency funds for? Unless you have other plans for your emergency funds if not, I don't see why you are hesitating and asking this question.

If I am in your shoe I would rather use the emergency funds to solve this problem and not touch any assets, this present market situation won't last long and many people will miss the boat, you have to avoid getting tempt by your assets.

Find other means to solve your problem, only the strong will laugh at last.

Like most of the time people have it backwards, no one should think about investing unless they have an emergency fund which can help them solve most problems they may suffer, only then they may consider investing, however this is not a popular option, as most people do not save at all and have a lot of debts, while the few which save some of their money try to invest it all and keep almost no capital on them, as they understand the nature of fiat and how it devalues at an impressive speed.

That's right, I value saving more than any fund or investment because life is full of surprises, and we never know what will happen. But I find that many people still do not realize the importance of saving, instead, they consider investing more than anything. Because they believe that investment will give them a return, generating larger amounts of money instead of saving money, saving money to them is like dead money. They were too subjective and forgot that investing is not always profitable and its short-term volatility.
Many people have fallen into the dilemma of investing all their savings, and now they have to borrow to get through the economic crisis because their investments are also losing money.

Inflation can attack anyone and requires us to fight it by fixing expenses and also minimizing expenses so that we are fine. Looking for income or a side job is an action that must be taken so as not to undermine the savings or investments we have for the future, and side jobs to support our finances because currently there are many side jobs that take advantage of technological developments. And it can also be done at home which in my opinion is a must-have skill and there are also many ways or tutorials that can help
and in the current situation we are required to be smart so that our needs are met and we can also save or invest starting from being smart to find additional income and managing finances so that everything is fulfilled and also still being able to set aside a little money for savings and investment.

That is why we need to be aware that saving is very important because when there is an emergency and the economy is not doing well, the savings are really very useful,
We never know what will happen in the future, so we need proper anticipation,
I hope more and more people are aware to do that.