Carol is planning her personal finances. She has divided her plan into various short-term and long-term goals. Which action should be the least important in terms of priority for Carol?

generating an emergency fund for her family

generating children's education fund

planning an exotic vacation

paying off credit card debt

The least important in terms of priority for Carol’s personal finances is planning an exotic vacation. Having an exotic vacation is just for pleasure and must be done if there is extra money from the budget. While, the children’s education fund and emergency fund is very important because these are considered to be a basic need for her family. Moreover, paying off credit card debt should also be given allocation for credit scoring is essential in terms of financial stability.