Answer:
False.
Budgeting can be a valuable tool not only for staying out of debt but also for managing and reducing existing debt. When you create a budget, you allocate your income to various expenses, including debt repayment. By carefully managing your budget, you can allocate more funds toward paying off your existing debts, which can help you get out of debt over time. Additionally, budgeting can help you avoid accumulating new debt by ensuring that you are living within your means and not overspending.