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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 5 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.Which is a variable expense that changes from month to month?
  • A.Rent
  • B.Groceries
  • C.A car loan payment
2.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
3.How does comparing prices before buying help with a shortfall?
  • A.It raises the family's income
  • B.It lowers spending on things the family needs anyway
  • C.It makes prices go up
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.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
6.Which change raises income?
  • A.Working extra hours or taking a second job
  • B.Canceling a phone plan
  • C.Shopping at a cheaper store
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 5 · free to copy for classroom use

Answer key — When Spending Is More Than Income

Set 5. Prints on its own sheet.

  1. 1.Groceries
  2. 2.A budget shortfall, or deficit
  3. 3.It lowers spending on things the family needs anyway
  4. 4.For a surprise need such as a car repair
  5. 5.List every expense to see where the money goes
  6. 6.Working extra hours or taking a second job
  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.