Skip to content
LessonPrint

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 4 of 25 · the same problems every time you open this link.

Next set

One paper per student

12345678910111213141516171819202122232425

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.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
2.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
3.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
4.Which is a fixed expense that stays the same each month?
  • A.Eating out
  • B.Groceries
  • C.Rent
5.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
6.A family spends more than it earns each month. What is this called?
  • A.A balanced budget
  • B.A surplus
  • C.A budget shortfall, or deficit
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 4 · free to copy for classroom use

Answer key — When Spending Is More Than Income

Set 4. Prints on its own sheet.

  1. 1.For a surprise need such as a car repair
  2. 2.It lowers spending on things the family needs anyway
  3. 3.Housing is a need, and missed payments bring fees and can cost the family its home
  4. 4.Rent
  5. 5.List every expense to see where the money goes
  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.