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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 23 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 skipping a rent payment a poor way to fix a shortfall?
  • A.Landlords never notice
  • B.Housing is a need, and missed payments bring fees and can cost the family its home
  • C.Rent is a want that nobody needs
2.What does it mean to postpone a purchase?
  • A.To wait until you have saved enough to buy it
  • B.To borrow money for it right away
  • C.To buy it twice
3.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
4.When is it right to use money from an emergency fund?
  • A.For a new video game
  • B.For a surprise need such as a car repair
  • C.For a vacation
5.Which change cuts spending on a want?
  • A.Buying a bigger TV
  • B.Eating at restaurants less often
  • C.Not paying the rent
6.What should a family do first when its expenses are more than its income?
  • A.List every expense to see where the money goes
  • B.Stop keeping records
  • C.Spend more to feel better
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 23 · free to copy for classroom use

Answer key — When Spending Is More Than Income

Set 23. Prints on its own sheet.

  1. 1.Housing is a need, and missed payments bring fees and can cost the family its home
  2. 2.To wait until you have saved enough to buy it
  3. 3.A budget shortfall, or deficit
  4. 4.For a surprise need such as a car repair
  5. 5.Eating at restaurants less often
  6. 6.List every expense to see where the money goes
  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.