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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 16 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.When is it right to use money from an emergency fund?
  • A.For a surprise need such as a car repair
  • B.For a new video game
  • C.For a vacation
2.Why is paying for the gap with a credit card every month risky?
  • A.The credit card pays the bill for good
  • B.Credit cards make income larger
  • C.The debt grows, and interest is added to it
3.Which change cuts spending on a want?
  • A.Not paying the rent
  • B.Buying a bigger TV
  • 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 surplus
  • C.A balanced budget
5.Which is a fixed expense that stays the same each month?
  • A.Groceries
  • B.Rent
  • C.Eating out
6.Which change raises income?
  • A.Shopping at a cheaper store
  • B.Working extra hours or taking a second job
  • C.Canceling a phone plan
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 16 · free to copy for classroom use

Answer key — When Spending Is More Than Income

Set 16. Prints on its own sheet.

  1. 1.For a surprise need such as a car repair
  2. 2.The debt grows, and interest is added to it
  3. 3.Eating at restaurants less often
  4. 4.A budget shortfall, or deficit
  5. 5.Rent
  6. 6.Working extra hours or taking a second job
  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.