I finally sat down and quit procrastinating and ran the numbers on my EF. After I take the money out for income tax and property tax I will have $277.36 left in my emergency fund. I will also have $204.30 in my holding tank (where I am now setting aside money for bills that are not monthly.) So it's definitely a major hit, but I think we can recover from it okay.

As eager as I am to pay off our debt, after we pay off the Master Card this month, I am going to take enough from what we would be paying to the VISA in the future to build the account back up to $1000 and then I'll add whatever I can to it. I would just feel better with at least $1000 in the bank quickly and then work on building it back up to $8000. Eventually higher, but I will feel a lot more secure with at least the $8000. We will still be able to pay the VISA off by the end of the year, it would just be December and not November.