Income and Expenses
Explore basic concepts of income and expenses through engaging activities for first graders.
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Standards
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Income and Expenses
Name:
Date:
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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?
Income
Expense
Both
Neither
4. You buy a new toy with your allowance. Is this income or an expense?
Income
Expense
Both
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.
True
False
8. Buying food at the store is an example of income.
True
False
9. Name one way you can earn income (get money).
10. Name one thing you like to spend money on (an expense).
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