Goals and Budget Now that Mohammed has identified his goals, he wants to know the next step. He goes back to the career counselor for more advice. They read his goals together and agree that he will need money to achieve many of his goals. She gave him a form that will help him see how he spends his money right now. Monthly Income and Expenses Income means the money that comes in to your home, usually from a job. Expenses are the things that you must pay for each month. Determining your monthly income and expenses is the first step to making a budget or savings plan. What do you think some of Mohammed's monthly expenses are? List 3 expenses Mohammed might have to pay each month. 1. 2. 3