One of the common misunderstandings with 5e is that slots != spells. Slots mark how many spells at that level you can cast before long rest.
So if you have 5 known spells, 3 level 1 spell slots and a level 2 spell slot, all your spells could be level 1 spells.
Alternatively, you could have all level 2 spells and only be able to cast one of them once.
I hope this helps.