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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 13 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.What does it mean to postpone a purchase?
  • A.To buy it twice
  • B.To wait until you have saved enough to buy it
  • C.To borrow money for it right away
2.What should a family do first when its expenses are more than its income?
  • A.Spend more to feel better
  • B.List every expense to see where the money goes
  • C.Stop keeping records
3.Which change cuts spending on a want?
  • A.Buying a bigger TV
  • B.Not paying the rent
  • C.Eating at restaurants less often
4.A family spends more than it earns each month. What is this called?
  • A.A budget shortfall, or deficit
  • B.A balanced budget
  • C.A surplus
5.Which is a variable expense that changes from month to month?
  • A.Groceries
  • B.Rent
  • C.A car loan payment
6.Which change raises income?
  • A.Working extra hours or taking a second job
  • B.Canceling a phone plan
  • C.Shopping at a cheaper store
7.The Park family earns $2,500 a month and spends $2,700. Write a plan to balance their budget.
  • I named at least two changes.
  • I said whether each change cuts spending or raises income.
  • I explained why the plan keeps needs such as rent and food.

LessonPrint · D2.Eco.1.3-5 · Set 13 · free to copy for classroom use

Answer key — When Spending Is More Than Income

Set 13. Prints on its own sheet.

  1. 1.To wait until you have saved enough to buy it
  2. 2.List every expense to see where the money goes
  3. 3.Eating at restaurants less often
  4. 4.A budget shortfall, or deficit
  5. 5.Groceries
  6. 6.Working extra hours or taking a second job
  7. 7.A plan to close the $200 gap with cuts to wants and/or more income, keeping needs such as rent and food, and saying which change does which.

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