Identifying the Main Idea of Budgeting

Read the following passage:

"In the realm of personal finance, understanding the principles of budgeting is crucial. Many individuals struggle to manage their expenses effectively and often find themselves in debt. Budgeting allows for better control over one's finances by allocating funds to various expenses and savings. It provides a clear picture of income and expenditures, making it easier to identify areas where spending can be reduced. Additionally, a well-structured budget can help in achieving financial goals, such as saving for a home or preparing for retirement. Therefore, mastering the art of budgeting is not just beneficial but essential for financial health."