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 6 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.A family spends more than it earns each month. What is this called?
  • A.A budget shortfall, or deficit
  • B.A surplus
  • C.A balanced budget
2.Which is a fixed expense that stays the same each month?
  • A.Groceries
  • B.Rent
  • C.Eating out
3.Which expense is usually easiest to lower quickly?
  • A.Entertainment such as movies and games
  • B.Rent under a one-year lease
  • C.A car loan payment
4.How does comparing prices before buying help with a shortfall?
  • A.It raises the family's income
  • B.It makes prices go up
  • C.It lowers spending on things the family needs anyway
5.Why is paying for the gap with a credit card every month risky?
  • A.Credit cards make income larger
  • B.The credit card pays the bill for good
  • C.The debt grows, and interest is added to it
6.Which is a variable expense that changes from month to month?
  • A.A car loan payment
  • B.Rent
  • C.Groceries
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 6 · free to copy for classroom use

Answer key — When Spending Is More Than Income

Set 6. Prints on its own sheet.

  1. 1.A budget shortfall, or deficit
  2. 2.Rent
  3. 3.Entertainment such as movies and games
  4. 4.It lowers spending on things the family needs anyway
  5. 5.The debt grows, and interest is added to it
  6. 6.Groceries
  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.