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Income and Expenses

Explore basic concepts of income and expenses through engaging activities for first graders.

Grade 1 Math Financial LiteracyIncome and Expenses
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Includes

3 Short AnswerMultiple ChoiceFill in the BlanksTrue / False

Standards

CCSS.MATH.CONTENT.1.MD.B.3

Topics

financial literacyincomeexpensesmoneygrade 1
8 sections · Free to use · Printable
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Income and Expenses

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Read each question carefully and answer to the best of your ability. This worksheet will help you understand how people earn and spend money.

1. What is income? (Hint: It's the money you get!)

2. What are expenses? (Hint: It's the money you spend!)

3. Your mom gets paid for working. Is this income or an expense?

a

Income

b

Expense

c

Both

d

Neither

4. You buy a new toy with your allowance. Is this income or an expense?

a

Income

b

Expense

c

Both

d

Neither

5. When you earn money, it is called  .

6. When you spend money, it is called an  .

7. Getting money as a gift is a type of income.

T

True

F

False

8. Buying food at the store is an example of income.

T

True

F

False

9. Name one way you can earn income (get money).

10. Name one thing you like to spend money on (an expense).