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No. of Recommendations: 1
One major consideration (I think, at least):

Should the worst happen and your gig ends, then life becomes hard and perhaps a payment gets missed along the way on on of you credit cards, etc... I worry that dipping in to the e-fund vs the HELOC might not be the better move.

I believe that Banks can adjust the terms of a HELOC should your credit score drop. This means an expectation (for example) of a $25,000 credit line could be cut to $5,000 or lower--precisely when you need it the most.

I would advocate for preserving the e-fund as long as possible. Draw on the HELOC first.

I realize that wasnt the question asked, but I think its worth mentioning. Hope this helps--and hope your gig lasts :)
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