Surviving Tough Economic Times by Liquidating Assets

Surviving Tough Economic Times by Liquidating Assets

With a recession looming and tough economic times ahead, more and more people are doing their best to survive. From cutting corners in the grocery store to taking on second and even third jobs just to stay alive, the state of people’s finances has gone from tough to dire. Things have gotten so hard in fact, that people are no longer thinking about how they’ll afford their next holiday.

They’re more concerned about how they’ll afford to pay their bills, buy food and even keep the electric company from disconnecting them. There is one common route though that many people don’t think about, and that is liquidating assets. But with a house and car being mandatory items in this day and age, what is there left for people to sell?

Have you ever found yourself thinking, “Will selling my diamond help?” If so, you have latched onto something that many people have not yet considered. Selling jewellery is a great way to get your hands on cash now and though the items you have may be keepsakes, survival has to come first.

There are probably many people who have thought, “Selling my diamonds saved my life” or “Selling my gold helped me feed my children”. Sadly, despite the emotional attachment you may have to your jewellery, you have to consider how you’ll be able to buy the necessities.

In some cases, people do not even realise the proverbial goldmine upon which they sit. They probably have rings, brooches and necklaces sitting around that they haven’t worn in years. And given the statistics that show divorce is on the rise, isn’t it a little frivolous to hold onto an old wedding ring?

Of course, selling silver and jewels to a buyer such as Liquid Fin has done wonders for the lives of some, but in your case, the notion of ‘selling my jewels’ may feel a little like dishonouring those who gave them to you. If this is something that causes you worry, try to prioritise.

Not every ring, bracelet or ornate piece has the same sentimental meaning as every other, and if you could sell just one or two pieces to help you get through the lean times, wouldn’t the sacrifice be worth it? It is really guilt, above everything that stops people from selling silver, diamonds and gold, but in tough times, food, shelter and warmth have to come first.

Even thinking about selling your jewellery may be a process you find depressing, but remember that what humans need is to survive, not to have pretty things. If you can have both, you are one of the lucky ones, but in an economy wrought by price increases and heavy cost burdens, you have to do whatever you can to ensure you, and your family, survive, and that may mean giving up the trinkets you like.