Piggybank when in debt?

shockindkj_2

We're trying to clean up or finances and have lots of debt on credit cards etc.
We use the spreadsheet budgeting tool from Money Saving Expert and have been using the 'piggy bank' method for expected expenditure such as school uniform, tenancy renewals, dentist fees etc.
My question is - should we be using the £200 we put in the piggy bank each month to clear off our debt instead? If we did this then when uniform/tenancy renewals/dentist fees come up, we'd have to pay by credit card...

What do you think?

Thanks for reading

tori.k

These should be budgeted for in you SOA, things like your tenancy renewal are an expected cost to not budget for them will leave you robbing Peter to pay Paul further down the line, to free up extra cash for overpaying debt take a harsh look at your monthly outgoings and see where you can reduce cost at source, can you slim down life's luxuries, are you on the cheapest tariffs for household bills, can you make some extra money by selling your unwanted items.
A emergency fund is a must, as it avoid needing the use of credit in the first place. If you are struggling to make the income and outgoings match then pop an SOA ( statements of affairs) on here, if often helps to talk through a budget and make a plan on the order to pay off debt the most cost efficient way or look at other debt options available to you.

datlex

Piggy banking should cover all expenditure not just longer term.