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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 12 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.

When Spending Is More Than Income

D2.Eco.1.3-5

NameDate

Circle the best answer, then write your plan.

1.Which is a fixed expense that stays the same each month?
  • A.Rent
  • B.Eating out
  • C.Groceries
2.What should a family do first when its expenses are more than its income?
  • A.List every expense to see where the money goes
  • B.Spend more to feel better
  • C.Stop keeping records
3.When is it right to use money from an emergency fund?
  • A.For a new video game
  • B.For a vacation
  • C.For a surprise need such as a car repair
4.Why is skipping a rent payment a poor way to fix a shortfall?
  • A.Rent is a want that nobody needs
  • B.Landlords never notice
  • C.Housing is a need, and missed payments bring fees and can cost the family its home
5.A family spends more than it earns each month. What is this called?
  • A.A surplus
  • B.A budget shortfall, or deficit
  • C.A balanced budget
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.Explain to a younger student what to do when they want something that costs more than they have saved.
  • I explained what saving and postponing mean.
  • I gave at least two steps to take.
  • I said why borrowing for a want is risky.

LessonPrint · D2.Eco.1.3-5 · Set 12 · free to copy for classroom use

Answer key — When Spending Is More Than Income

Set 12. Prints on its own sheet.

  1. 1.Rent
  2. 2.List every expense to see where the money goes
  3. 3.For a surprise need such as a car repair
  4. 4.Housing is a need, and missed payments bring fees and can cost the family its home
  5. 5.A budget shortfall, or deficit
  6. 6.Eating at restaurants less often
  7. 7.Advice to postpone the want and keep saving, with at least two steps, and why borrowing for a want costs more.

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