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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 22 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.Credit cards make income larger
  • B.The credit card pays the bill for good
  • C.The debt grows, and interest is added to it
2.What should a family do first when its expenses are more than its income?
  • A.Stop keeping records
  • B.List every expense to see where the money goes
  • C.Spend more to feel better
3.Why is skipping a rent payment a poor way to fix a shortfall?
  • A.Landlords never notice
  • B.Rent is a want that nobody needs
  • C.Housing is a need, and missed payments bring fees and can cost the family its home
4.When is it right to use money from an emergency fund?
  • A.For a vacation
  • B.For a new video game
  • C.For a surprise need such as a car repair
5.Which is a variable expense that changes from month to month?
  • A.Groceries
  • B.Rent
  • C.A car loan payment
6.How does comparing prices before buying help with a shortfall?
  • A.It makes prices go up
  • B.It lowers spending on things the family needs anyway
  • C.It raises the family's income
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 22 · free to copy for classroom use

Answer key — When Spending Is More Than Income

Set 22. Prints on its own sheet.

  1. 1.The debt grows, and interest is added to it
  2. 2.List every expense to see where the money goes
  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.Groceries
  6. 6.It lowers spending on things the family needs anyway
  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.