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Balancing a Family Budget is a free printable Grade 3 to Grade 5 social studies worksheet on balancing a family budget, aligned to C3 Framework indicator D2.Eco.1.3-5. It prints 6 questions with an answer key on its own sheet of paper, in 25 versions that each ask different questions, so no two students in the class work from the same page. Print it from the browser or download it as a PDF — no account, no email.

Set 24 of 25 · the same problems every time you open this link.

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Set 1 has all 25 in a single PDF. All 25 sets ask different questions.

Balancing a Family Budget

D2.Eco.1.3-5

NameDate

Read the budget and answer the questions, then circle the best answers.

1.Look at the source, then answer the questions.

The Johnson Family's Budget for March

A family budget written for this worksheet. Income: paychecks, $2,800 Rent: $1,100 Food: $550 Car payment and gas: $450 Electricity and water: $250 Phone: $100 Concert tickets: $200 Eating out: $300 Total spending: $2,950

  1. 1. Which two lines are wants the family could cut?
  2. 2. If the family cut eating out by $150, would the budget balance? Write the number sentences.
  3. 3. How much does the family spend on eating out?
  4. 4. Why would cutting the rent be a poor way to fix this budget?
2.Which of these is a need in a family budget?
  • A.Concert tickets
  • B.A new video game
  • C.Rent
3.A family saves $300 a month for 4 months. How much has it saved?
  • A.4 × $300 = $1,200
  • B.$304
  • C.$700
4.A family's income is $1,700. It spends $900 on rent, $400 on food and $500 on everything else. By how much is it short?
  • A.$3,500
  • B.$200
  • C.$900 + $400 + $500 = $1,800; $1,800 − $1,700 = $100
5.What is an emergency fund?
  • A.Savings kept for surprise costs such as repairs
  • B.A loan from a store
  • C.Money set aside for a vacation
6.Why is borrowing on a credit card every month to cover a budget shortfall risky?
  • A.Credit cards never charge interest
  • B.The debt and the interest on it keep growing
  • C.It makes the budget balance for good

LessonPrint · D2.Eco.1.3-5 · Set 24 · free to copy for classroom use

Answer key — Balancing a Family Budget

Set 24. Prints on its own sheet.

  1. 1.1. Eating out and concert tickets. 2. Yes: $2,950 − $150 = $2,800. That equals the income. 3. $300 on eating out. 4. Rent pays for housing, which is a need, and cannot simply be cut.
  2. 2.Rent
  3. 3.4 × $300 = $1,200
  4. 4.$900 + $400 + $500 = $1,800; $1,800 − $1,700 = $100
  5. 5.Savings kept for surprise costs such as repairs
  6. 6.The debt and the interest on it keep growing

Last reviewed 2026-09-05. Aligned to D2.Eco.1.3-5 of the C3 Framework for Social Studies State Standards.