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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 25 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.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
2.Which is a fixed expense that stays the same each month?
  • A.Groceries
  • B.Eating out
  • C.Rent
3.How does comparing prices before buying help with a shortfall?
  • A.It makes prices go up
  • B.It raises the family's income
  • C.It lowers spending on things the family needs anyway
4.Which change raises income?
  • A.Working extra hours or taking a second job
  • B.Shopping at a cheaper store
  • C.Canceling a phone plan
5.A family spends more than it earns each month. What is this called?
  • A.A balanced budget
  • B.A budget shortfall, or deficit
  • C.A surplus
6.Which expense is usually easiest to lower quickly?
  • A.A car loan payment
  • B.Rent under a one-year lease
  • C.Entertainment such as movies and games
7.A surprise car repair arrives in a month when the family has no money left over. Write what the family could do, and one good and one bad point about each choice.
  • I gave at least two choices.
  • I gave a good point and a bad point for each one.
  • I said which choice I would pick and why.

LessonPrint · D2.Eco.1.3-5 · Set 25 · free to copy for classroom use

Answer key — When Spending Is More Than Income

Set 25. Prints on its own sheet.

  1. 1.List every expense to see where the money goes
  2. 2.Rent
  3. 3.It lowers spending on things the family needs anyway
  4. 4.Working extra hours or taking a second job
  5. 5.A budget shortfall, or deficit
  6. 6.Entertainment such as movies and games
  7. 7.Two or more choices for the repair (an emergency fund, cutting wants, postponing other spending, borrowing) with a good and bad point for each and a reasoned pick.

Last reviewed 2026-09-05. Aligned to D2.Eco.1.3-5 of the C3 Framework for Social Studies State Standards.