1. **State the problem:** Evaluate the expression $$-\frac{1}{8} - \left(-\frac{1}{5}\right)$$. 2. **Understand the operation:** Subtracting a negative is the same as adding a positive. So, $$-\frac{1}{8} - \left(-\frac{1}{5}\right) = -\frac{1}{8} + \frac{1}{5}$$ 3. **Find a common denominator:** The denominators are 8 and 5. The least common denominator (LCD) is 40. 4. **Rewrite each fraction with denominator 40:** $$-\frac{1}{8} = -\frac{1 \times 5}{8 \times 5} = -\frac{5}{40}$$ $$\frac{1}{5} = \frac{1 \times 8}{5 \times 8} = \frac{8}{40}$$ 5. **Add the fractions:** $$-\frac{5}{40} + \frac{8}{40} = \frac{-5 + 8}{40} = \frac{3}{40}$$ 6. **Final answer:** $$\boxed{\frac{3}{40}}$$