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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 24 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.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
2.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
3.Why is paying for the gap with a credit card every month risky?
  • A.The credit card pays the bill for good
  • B.The debt grows, and interest is added to it
  • C.Credit cards make income larger
4.What should a family do first when its expenses are more than its income?
  • A.Spend more to feel better
  • B.Stop keeping records
  • C.List every expense to see where the money goes
5.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
6.A family spends more than it earns each month. What is this called?
  • A.A budget shortfall, or deficit
  • B.A balanced budget
  • C.A surplus
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 24 · free to copy for classroom use

Answer key — When Spending Is More Than Income

Set 24. Prints on its own sheet.

  1. 1.It lowers spending on things the family needs anyway
  2. 2.Housing is a need, and missed payments bring fees and can cost the family its home
  3. 3.The debt grows, and interest is added to it
  4. 4.List every expense to see where the money goes
  5. 5.For a surprise need such as a car repair
  6. 6.A budget shortfall, or deficit
  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.