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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 7 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.When is it right to use money from an emergency fund?
  • A.For a surprise need such as a car repair
  • B.For a vacation
  • C.For a new video game
2.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
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.Landlords never notice
  • C.Rent is a want that nobody needs
4.Why is paying for the gap with a credit card every month risky?
  • A.Credit cards make income larger
  • B.The debt grows, and interest is added to it
  • C.The credit card pays the bill for good
5.Which change cuts spending on a want?
  • A.Buying a bigger TV
  • B.Eating at restaurants less often
  • C.Not paying the rent
6.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
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 7 · free to copy for classroom use

Answer key — When Spending Is More Than Income

Set 7. 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.The debt grows, and interest is added to it
  5. 5.Eating at restaurants less often
  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.