Question

what is the main benefit of budgeting in financial planning? it eliminates all expenses. it helps individuals understand their financial situation. it guarantees financial success.

Explanation:

Budgeting in financial - planning helps individuals or entities track income and expenses, which in turn allows them to understand their financial situation. It doesn't eliminate all expenses as some are necessary. Also, it doesn't guarantee financial success as there are external factors at play.

Answer:

It helps individuals understand their financial situation.