All of the following are good financial savings strategies EXCEPT "saving for an emergency fund, then paying off credit debt".
Option: B
Explanation:
An effective financial system can encourage savings by offering simple and convenient exposure to suitable savings tools provided at reasonable price by high-quality, reputable institutions. The emergency funds through your earning years can be extremely valuable, if you lose your job or are unable to work due to a temporary injury or after retirement, so you need cash to cover your regular bills.
Here saving for emergency fund, then paying off credit card is blunder idea, because interest rate may become huge load, and if not paid and simultaneously retirement or any tragedy take place which donot permit to continue job than there will be burden from two sides i.e paying regular bills and credit card's principal amount with interest.
All of the following are good financial savings strategies EXCEPT saving for an emergency fund, then paying off credit debt.
In this the saving should be encourage by offering the exposure for the tools for saving that should be given at the nominal prices from the high reputable institutions
Here the emergency funds via the earnings years should be valuable. It includes the payoff the credit card, retiring, saving for retirement, etc,
Therefore, the option b is correct.
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