Tips and Tricks Part 1: Financial Assistance

Being a single mother comes with its own set of challenges, but there are plenty of

resources and strategies that can help manage those challenges more effectively.

Over the next few months, we will publish a 5-part blog series, where we will break

down some tips and tricks, along with relevant statistics and resources that can be

helpful for you and your families. This is not an exhaustive resource, but rather a toolkit

designed to assist you as you move forward on the next step of your journey.

Topics Covered

● January: Financial Management & Assistance programs

● February: Parenting and Time Management

● February: Emotional Support and Community Networking

● March: Legal and Custody Support

● March: Educational and Career Advancement

Financial Management

Managing finances as a single mother can be a daunting task, especially with the

responsibility of raising children, maintaining a household, and balancing work. In a

study examining the relationship between self-reported stressors and depressive

symptoms in Black single mothers, 56.07% of them said that financial stressors

contributed to their depressed mood.¹ This evidence highlights the importance of

providing financial literacy support while drawing attention to the consequent effects

these circumstances can inflict upon single mother communities. With careful planning,

budgeting, and accessing the right resources, single mothers can navigate these

financial challenges while ensuring stability and a secure future for their families.

Understanding your financial situation and knowing where to turn for support is key.

From creating a budget to taking advantage of assistance programs, financial

management can empower single mothers to not only survive but thrive. This article will

explore practical tips and helpful resources for mastering money management, building

savings, and making informed financial decisions.

By developing good financial habits, you can reduce stress, prioritize your family's well-

being, and pave the way for long-term financial success.

Research Stats:

● Single Mothers & Poverty: According to the U.S. Census Bureau, 29.7% of

families with a female householder (without a husband present) were living in

poverty in 2020, compared to 10.1% of married-couple families. This highlights

the financial struggles that many single mothers face in providing for their

children on a single income (link here)

● Single Mother Households in the U.S.: In 2020, about 23% of U.S. children

lived in single-parent households, and most of these households were led by

single mothers. (link here)

● Single Mothers Debt: According to Credit.com, nearly 42% of single mothers

report carrying some form of consumer debt (credit cards, personal loans, etc.)

and struggle with credit card balances. With limited income, many single mothers

may only be able to make minimum payments, leading to long-term financial

strain due to high-interest rates. (link here)

● Usage of Government Programs: A 2019 study by the U.S. Census Bureau

found that about 50% of single mothers with children under the age of 18

participate in some form of public assistance (TANF, SNAP, Medicaid, etc.).

However, only 40% of eligible families receive child care subsidies, and less than

25% of families receive the full support available under the Earned Income Tax

Credit (EITC). This shows that, despite government assistance, many single

mothers still struggle to meet their basic needs. (link here)

Tips:

● Create a Budget: Start by tracking income and expenses. Apps like Simplifi or

Empower can help keep track of spending. See Table 1 below for a comparison

of various budgeting apps.²

● Emergency Fund: It’s important to set aside at least 3-5 months of living

expenses in case of unexpected events.

● Take Advantage of Financial Assistance Programs: Programs like

Temporary Assistance for Needy Families (TANF), Supplemental Nutrition

Assistance Program (SNAP), and Child Care Assistance can help. See Table

2 below for various program offerings.³

● Save for the Future: Even small savings can build over time. Look into 529

college savings plans for your children, or other savings accounts that offer

good returns.

Resources:

● Benefits.gov: Offers a directory of available federal assistance programs for

low-income families.

● Earned Income Tax Credit (EITC): A tax benefit for low-to-moderate-income

working individuals and families, especially those with children. Check if you

qualify for additional relief.

Table 1: Best Budgeting Apps for Single Moms²

General Tips for Using Budgeting Apps:

• Set Realistic Goals: Use budgeting apps to set small, achievable savings goals (e.g., emergency fund, vacations, or children’s education).

• Use Bill Reminders: Many apps (like EveryDollar) can send you reminders for upcoming bills, helping to avoid late fees.

  
  

Budgeting App	Key Features	Best For	Price
Quicken Simplifi	Tracks spending and helps set savings goals with an easy-to-use, visually appealing interface. Focuses on trends and budgeting.	Those who like visual tools to manage spending and savings with simple interfaces	$3.99/month (free trial available)
Monarch	A user-friendly app that syncs all your financial accounts in one place, offers budgeting tools, savings goals, and helps with investing. Strong on collaborative features for families.	Those who want a sleek, intuitive platform that combines budgeting with investment tracking	Free 7-day trial. Premium: $9.99/month
Rocket Money	Previously known as Truebill, this app tracks subscriptions, manages bills, and helps you find ways to save money. It also offers budgeting tools and credit score tracking.	Single mothers who want to track recurring expenses and save money by canceling unused subscriptions	Free (basic budgeting, subscription tracking) Premium: $3.99/month
Empower	An AI-driven financial app that helps track your spending, create budgets, and save for goals. Offers automatic savings features and credit score tracking.	Single mothers who want an app with AI features to automatically save money and provide financial insights	Free (budgeting/tracking) Premium: $8.99/month
You Need a Budget (YNAB)	Helps you allocate funds to different categories (giving every dollar a job) and helps prioritize savings. Provides in-depth budgeting.	Those who want a hands-on, proactive approach to budgeting	$14.99/month (Free trial available)
PocketGuard	Tracks income and expenses and gives an overview of how much money you have left after bills. Offers budgeting without overwhelming features.	Single mothers looking for simplicity and quick insights into cash flow	Free. Premium: $4.99/month
EveryDollar	Offers an easy-to-use system for zero-based budgeting, tracking bills, and expenses. Helps with long-term goal planning.	Those following Dave Ramsey’s method of budgeting and debt reduction	Free.Premium: $129.99/year

Table 2: Best Programs for Single Moms³ 

Program	Description	Benefits
Temporary Assistance for Needy Families Website: Your Texas Benefits - TANF	TANF is a federal government-funded program aimed at supporting low-income families with temporary financial aid. It helps cover essentials like food, housing, and utilities while encouraging self-sufficiency through employment and training initiatives.	Families receive cash assistance to meet basic needs, along with access to job preparation services, childcare assistance, and support for education.
Supplemental Nutrition Assistance Program  Website: SNAP in Texas - Your Texas Benefits	Formerly known as food stamps, provides monthly benefits to help low-income families purchase groceries. stores and approved retailers.	Benefits are issued via an electronic card, which can be used at most grocery
Medicaid and CHIP (Children's Health Insurance Program)Website: Medicaid & CHIP in Texas - Your Texas Benefits	Provides low-cost or free healthcare coverage for eligible low-income individuals, including single mothers and their children.	CHIP offers health coverage for children in families who earn too much to qualify for Medicaid but cannot afford private insurance.
Texas Low-Income Energy Assistance Program (LIHEAP)Website: LIHEAP Texas	LIHEAP helps low-income families, including single mothers, pay their energy bills.	The program provides financial help for electricity, gas, and water bills.
Texas Housing Assistance Program (TAP)Website: Texas Housing Assistance	Offers affordable housing options for low-income families through programs like Section 8 Housing Choice Vouchers and public housing.	This program helps single mothers secure safe and affordable housing.

References

1. Carden, Melissa. Stress and Mental Health Experiences Among Single Mothers in the United States Since 2010. With Christina-Committee Chair Mair and Tina-Committee Member Hershey, 1 Sept. 2022, https://d-scholarship.pitt.edu/43606.

2. 7 Best Personal Finance Apps – ROB BERGER. https://robberger.com/personal-finance-software/. Accessed 20 Mar. 2026.

3. Rye, Mason. “Financial Help for Single Moms: 15+ Resources in 2025.” *spotfund, 22 Nov. 2024, https://www.spotfund.com/blog/4KYwWx-financial-assistance-for-single-moms-resources.