Which one of the following is not a recommended step individuals can use to weather a future financial crisis?
A) Establish a smaller than usual emergency fund
B) Consider converting investments to cash to preserve value
C) Contact banks and credit card companies if you are unable to make payments
D) Pay off credit cards
E) Seek cheaper alternatives to frequently purchased items

Question

Quizplus · Accepted Answer

Establishing a smaller emergency fund is not a recommended step, as it may not be enough to cover unexpected expenses during a financial crisis. It is typically recommended to have 3-6 months' worth of living expenses saved in an emergency fund.

Which One of the Following Is Not a Recommended Step