Best Personal Finance Tips for Single Moms

From some of the research I conducted, I read that about two-thirds of Americans will make a New Year’s Resolution.  Possibly you were one who may have made one or two for yourself.  The reality is that 80% of those people that made a New Year’s Resolution will have given up by Valentine’s Day.  I want to share with you 3 tips so you can be better stewards of your financial resources whether you made a resolution or not!

  1. If you don’t see it, you won’t spend it!

Proverbs 10:4-5 (ESV) A slack hand causes poverty, but the hand of the diligent makes rich. He who gathers in summer is a prudent son, but he who sleeps in harvest is a son who brings shame.

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It is not always how much money you make but how much money you spend that separates those who have money from those that live paycheck to paycheck.  An easy way to spend less so you can save more is by contributing to your company sponsored retirement plan.  If the money is gone before it makes it into your checking account and you never see it, you won’t have a chance to spend it!  If you don’t have a company sponsored retirement plan, you can still save.  Open an account at financial institution that is different from the one you have your checking account at and set up a bill pay where you deposit a set amount of money into that account each month.  If it is a savings account, do not ask for a debit card to make it harder to withdraw the money when you are tempted to!

  1. It is not what you know, it is what you do that is important!

Proverbs 6:9-11(NLT) “But you, lazybones, how long will you sleep? When will you wake up? A little extra sleep, a little more slumber, a little folding of the hands to rest—then poverty will pounce on you like a bandit, scarcity will attack you like an armed robber.”

If you know that credit card debt is bad, then don’t use your credit cards.  If you know you need to start spending less so you can save more, then start tracking where you are spending your money so you can figure out what you can live without or at least cut back on.  If you know you need to start saving for your short term or longer term goals, then open an account and start putting money into it.  Many of us know what we need to do, we just don’t do it!

  1. The richest people usually give the most!

Proverbs 11:24-25(ESV) One gives freely, yet grows all the richer; another withholds what he should give, and only suffers want. Whoever brings blessing will be enriched, and one who waters will himself be watered.

We have all heard the saying it is better to give than to receive.  I have said many times that the most joyous people are not always the ones who have the most stuff but the ones who GIVE THE MOST.  No matter how bad you think you have it, someone out there has it even worse!

So, there you have it!  My best 3 Tips so you can be good stewards with your financial resources.


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Steve Repak, CFP® is a Financial Literacy Speaker, Army veteran, and author of 6 Week Money Challenge: For Your Personal Finances (January 2016) and Dollars & Uncommon Sense: Basic Training For Your Money (January 2012).  Steve has helped many people turn their finances around with his inspiring financial literacy presentations and one-on-one financial coaching.For more information about Steve, his books or if you would like him to speak at your or next event visit


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The Life of a Single Mom is a national, faith-based, nonprofit that exists to see that no single mom walks alone. To date, we have worked with more than 1,500 churches & community groups to start or improve a single mom’s support group in cities throughout the U.S. and beyond. We have a large array of books, curriculum, training materials, and online instructional videos to support ministry leaders who lead single moms. Our single mom programs focus on empowering single moms to grow spiritually, emotionally, financially, and parentally through a number of projects including: Single Mom University, Single Moms Across America, the National TLSM Single Moms Conference, and a variety of programs throughout the U.S. For more information, visit