The correct order for saving should be ___? a) emergency fund, retirement, pay off credit debt b) retirement, emergency fund, pay off credit debt c) pay off credit debt, emergency fund d) pay off credit debt, retirement, emergency fund

1 answer

The correct order for saving typically prioritizes managing debt and building a safety net. Therefore, the most recommended option is:

a) emergency fund, retirement, pay off credit debt

This order suggests that you first establish an emergency fund to cover unexpected expenses, then focus on paying off high-interest credit debt, and finally begin contributing to retirement savings. It's important to address credit debt to avoid high interest payments, but having an emergency fund is crucial for financial security.