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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 9 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 does it mean to postpone a purchase?
  • A.To buy it twice
  • B.To borrow money for it right away
  • C.To wait until you have saved enough to buy it
2.Which is a variable expense that changes from month to month?
  • A.Groceries
  • B.Rent
  • C.A car loan payment
3.A family spends more than it earns each month. What is this called?
  • A.A surplus
  • B.A budget shortfall, or deficit
  • C.A balanced budget
4.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
5.Which is a fixed expense that stays the same each month?
  • A.Eating out
  • B.Groceries
  • C.Rent
6.Which change cuts spending on a want?
  • A.Eating at restaurants less often
  • B.Buying a bigger TV
  • C.Not paying the rent
7.The Park family earns $2,500 a month and spends $2,700. Write a plan to balance their budget.
  • I named at least two changes.
  • I said whether each change cuts spending or raises income.
  • I explained why the plan keeps needs such as rent and food.

LessonPrint · D2.Eco.1.3-5 · Set 9 · free to copy for classroom use

Answer key — When Spending Is More Than Income

Set 9. Prints on its own sheet.

  1. 1.To wait until you have saved enough to buy it
  2. 2.Groceries
  3. 3.A budget shortfall, or deficit
  4. 4.It lowers spending on things the family needs anyway
  5. 5.Rent
  6. 6.Eating at restaurants less often
  7. 7.A plan to close the $200 gap with cuts to wants and/or more income, keeping needs such as rent and food, and saying which change does which.

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