More questions answered:

Dear B.B.

What is your best tip for keeping the budget routine? I can’t count the number of times I set up a budget – sometimes on a spread-sheet; sometimes using the envelope system. I keep it on track for a bit then it all seems to dwindle and I get stuck again. Do you have a hot tip for slackers like me?

from K.H.


In many ways, starting a budget is like starting a diet.

We have good intentions, but fall off the wagon soon after. If your budget is not workable then the fallout will come sooner. You have to understand that you can’t spend more than you earn. Remind yourself that it’s a change of lifestyle.

A kick in the pants from a Budget Bitch from time to time, also helps you stay on track.


Dear B.B.

We’re having an argument in our house.

My husband has recently inherited a small sum of money. He wants to clear our credit card debt and then put the leftover amount into a savings account.

I think it’s wrong to use that money to get out of debt. I’d like to put all of it into a high interest savings account. We never have anything in the bank, and it would be nice to see it earning some money for us.

from Anon


It doesn’t make sense to have a large sum of money in your savings account if you owe a large amount on your credit card. Any interest you earn from the ‘savings’ money will be negated by the high interest you’re paying on the balance of your credit card.

I can understand that you feel guilty for using an inheritance to clear your debt but your husband is using a common-sense approach.

A sensible budget plan will help you to stop racking up debt. If you’ve been able to pay the interest on your credit card, then you should be able to add that amount to your new savings fund.


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