If my wife is denied for K3 what happens next ? Will they just tell her to come back when she solved the issue that caused her to be denied ?
Can she later try to go for the CR-1 ?

They may ask for more information or documentation or they may give a notice of intent to deny. In either case, there are options to overcome from as simple as giving them what they ask for to having an attorney appeal their initial NOID (intent to deny). It all depends on the circumstances and reason for their initial unfavorable decision.

Yes getting your CR1 petition to the Consulate is an option. It may be easy or difficult to get it there but the same issues are likely to arise, if any.

Thanks for the information, Pushbrk.

I have a hard time keeping track of each person by username but now I see you may be concerned about an initial denial based on public charge concerns. You only just barely meet the minimums. Manila is famous for not accepting joint sponsors for K visas. As such, if they initially deny based on your financial package, you may well be able to submit a new I-134 after you find a second job. Finding one before you complete the I-134 would be preferrable. Another option you have is to ask you parents to put some of their money in your savings account at least temporarily. This way, your income and savings picture will look stronger.

In any event, if finances are the reason for an initial denial, you'll likely have an opportunity to attempt to overcome that denial.