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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 19 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.Eating out
  • B.Rent
  • C.Groceries
2.Which change raises income?
  • A.Working extra hours or taking a second job
  • B.Canceling a phone plan
  • C.Shopping at a cheaper store
3.Which expense is usually easiest to lower quickly?
  • A.Entertainment such as movies and games
  • B.Rent under a one-year lease
  • C.A car loan payment
4.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
5.A family spends more than it earns each month. What is this called?
  • A.A surplus
  • B.A balanced budget
  • C.A budget shortfall, or deficit
6.Why is skipping a rent payment a poor way to fix a shortfall?
  • A.Housing is a need, and missed payments bring fees and can cost the family its home
  • B.Rent is a want that nobody needs
  • C.Landlords never notice
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 19 · free to copy for classroom use

Answer key — When Spending Is More Than Income

Set 19. Prints on its own sheet.

  1. 1.Rent
  2. 2.Working extra hours or taking a second job
  3. 3.Entertainment such as movies and games
  4. 4.To wait until you have saved enough to buy it
  5. 5.A budget shortfall, or deficit
  6. 6.Housing is a need, and missed payments bring fees and can cost the family its home
  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.