[poundwise]

I say you ought to have a small EF and then pay ALL debt (except the mortgage) and after that build the EF up to 3 months of pay or 6 months of expenses or somewhere in between.

Having said that, my current debt payment plan calls for my wife's car payment to be paid next to last and I may adjust it so that it is last. If an emergency, or if otherwise, I end up having to carry a payment for a while, I'd just as soon it be a car payment. In fact, I'd considered that once we only have the one car payment left, we may slow down the debt payoff in order to build up the HSA and start an IRA, etc., if need be.

Still, the basic premise I adhere to is to pay the debt first, while having a minimal EF.