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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 14 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.Why is paying for the gap with a credit card every month risky?
  • A.The debt grows, and interest is added to it
  • B.Credit cards make income larger
  • C.The credit card pays the bill for good
2.How does comparing prices before buying help with a shortfall?
  • A.It raises the family's income
  • B.It makes prices go up
  • C.It lowers spending on things the family needs anyway
3.Why is skipping a rent payment a poor way to fix a shortfall?
  • A.Rent is a want that nobody needs
  • B.Housing is a need, and missed payments bring fees and can cost the family its home
  • C.Landlords never notice
4.When is it right to use money from an emergency fund?
  • A.For a surprise need such as a car repair
  • B.For a vacation
  • C.For a new video game
5.Which change raises income?
  • A.Canceling a phone plan
  • B.Shopping at a cheaper store
  • C.Working extra hours or taking a second job
6.What does it mean to postpone a purchase?
  • A.To borrow money for it right away
  • B.To wait until you have saved enough to buy it
  • C.To buy it twice
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 14 · free to copy for classroom use

Answer key — When Spending Is More Than Income

Set 14. Prints on its own sheet.

  1. 1.The debt grows, and interest is added to it
  2. 2.It lowers spending on things the family needs anyway
  3. 3.Housing is a need, and missed payments bring fees and can cost the family its home
  4. 4.For a surprise need such as a car repair
  5. 5.Working extra hours or taking a second job
  6. 6.To wait until you have saved enough to buy it
  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.