What do you need? Like with my tax return I am getting my chimney repaired so I can have heat if the electricity goes off. Even though I have natural gas for heat (which I hate), if the power goes off, we have no heat. I have a awesome woodstove here and have not been able to use it as the pipe looks like a colander apparently.
Basic needs are Food, Water, Shelter. Are you lacking in any of those areas? Get the basic minimums.
Next is getting out of debt. How much do you owe, VS what you make a month? What makes more sense? Like with Roundabouts on forum, many of us recommended she NOT pay off her debt at the moment as it was low enough monthly payments, it was not setting her back. Are you paying $100 month on that car or are you paying $500? Can you cut back even more and make double payments on your home to get that paid off sooner than later? That said, I also had 4 months of paychecks saved, which saved my bum when my employment got sold to the competition and then killed off. Having a large pantry also saved me then as well, as well as 3 other times.
How important is a generator to you? Do you WANT it, or do you NEED it? When I lived in the bush, the power would go out for 9+ days. I know I do not need a generator, so it is low on my priorities and I also do not want to deal with storing fuel. Other than freezers (and I have other options there) I can't think of a single reason why I need one. Recently I met someone who needed a generator as a back up for someone with health issues and needed electricity to run her medical equipment. I do however, have a small solar setup that I have had for 5-6 years and use constantly. I got it to learn about solar on a small scale before I went to anything more.
I am with Endurance though as all three, having an emergency fund, getting out of debt, and buying preps is important, but only you can tell you what is a priority and what is not as high on the list.