When Spending Is More Than Income is a free printable Grade 3 to Grade 5 social studies worksheet on what to do when spending is more than income, aligned to C3 Framework indicator D2.Eco.1.3-5. It prints 7 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 1 of 25 · the same problems every time you open this link.
1.When is it right to use money from an emergency fund?
A.For a vacation
B.For a new video game
C.For a surprise need such as a car repair
2.A family spends more than it earns each month. What is this called?
A.A balanced budget
B.A budget shortfall, or deficit
C.A surplus
3.Why is paying for the gap with a credit card every month risky?
A.Credit cards make income larger
B.The debt grows, and interest is added to it
C.The credit card pays the bill for good
4.What does it mean to postpone a purchase?
A.To wait until you have saved enough to buy it
B.To borrow money for it right away
C.To buy it twice
5.Which is a variable expense that changes from month to month?
A.Groceries
B.A car loan payment
C.Rent
6.Which change cuts spending on a want?
A.Eating at restaurants less often
B.Buying a bigger TV
C.Not paying the rent
7.A surprise car repair arrives in a month when the family has no money left over. Write what the family could do, and one good and one bad point about each choice.
I gave at least two choices.
I gave a good point and a bad point for each one.
I said which choice I would pick and why.
LessonPrint · D2.Eco.1.3-5 · Set 1 · free to copy for classroom use
Answer key — When Spending Is More Than Income
Set 1. Prints on its own sheet.
1.For a surprise need such as a car repair
2.A budget shortfall, or deficit
3.The debt grows, and interest is added to it
4.To wait until you have saved enough to buy it
5.Groceries
6.Eating at restaurants less often
7.Two or more choices for the repair (an emergency fund, cutting wants, postponing other spending, borrowing) with a good and bad point for each and a reasoned pick.
Questions about When Spending Is More Than Income
What does the When Spending Is More Than Income worksheet cover?
It practices what to do when spending is more than income — 7 questions for Grade 3 to Grade 5, all on C3 Framework D2.Eco.1.3-5: Weigh up what a choice gains against what it costs. The instruction to students is “Circle the best answer, then write your plan”, and the answer key follows on the next sheet.
Which C3 Framework indicator does When Spending Is More Than Income practice?
D2.Eco.1.3-5, under Economics for Grade 3 to Grade 5. The published indicator reads: “Compare the benefits and costs of individual choices.” The worksheet assesses that indicator rather than a paraphrase of it.
What age or grade is this worksheet for?
When Spending Is More Than Income is written for Grade 3 to Grade 5, typically ages 40-41. It is one of the sheets on D2.Eco.1.3-5, so it suits any student working at that standard — including older students revisiting it and younger ones working ahead.
Does When Spending Is More Than Income come with an answer key?
Yes. All 7 answers are generated from the same problems as the questions, so the key cannot drift out of step with the sheet. It starts on a fresh sheet of paper, after the questions, so it is not handed out with the class by accident.
How many different versions of When Spending Is More Than Income can I print?
25 — one per student, and all 25 ask different questions. Set 1 downloads the whole class as a single PDF. Every version is fixed to its own address, so a sheet printed today holds the same problems when you reopen it next week.
Is When Spending Is More Than Income free to print and photocopy?
Yes. When Spending Is More Than Income, its answer key and its 25 versions are free to print and photocopy for your own class, with no account, no email capture and no subscription at the download step. Please do not resell them or republish them as your own.
More practice for D2.Eco.1.3-5
Weigh up what a choice gains against what it costs.