Hybrid Debt Elimination System

Looking carefully at the last post you will notice that something isn't quite as you'd expect. What are the clues that this isn't actually a Cascading or Snowball debt elimination system? Well for one thing it almost looks like I am not making minimum payments since some of the debt doesn't seem to be shrinking. Of course I am making my minimum payments,always make at least your minimum payments, otherwise you will damage your credit!

What I am actually doing is that periodically, usually once a month, I take the available credit at a lower interest to pay the higher interest debt. I haven't done the math yet to see if this makes a significant difference but I find it intuitive to pay off the higher interest debt with lower interest available credit. Also, I think that over time by doing this Cascading or Snowball debt elimination will actually give the same list order of debts.

You should note however that in my case I have the 5.47% mortgage decreasing while the 6.25% home equity line of credit growing, the reason is that both are actually make up my $187500.00 mortgage. The 5.47% principal from my payments is being added as available credit to my open variable rate home equity line of credit. BTW all of my interest rates are actually 0.5% less except for my fixed and closed 5.47% mortgage.

As always comments are welcomed.