Financial Planning for Single Mums: Smart Money Moves for Single Parents
There’s a moment after separation that I like to call the financial fog. It’s when you realise you’re now the CFO of your household…and you didn’t exactly apply for the job. Honestly, I used to think “diversifying my portfolio” meant buying wine and gin. But maybe you became a single parent overnight, and suddenly, the bills, mortgage, school fees, and the grocery shop are all sitting squarely on your shoulders. This is exactly where financial planning for single mums becomes less of a “nice-to-have” and more of a lifeline.
For many single mothers, money conversations feel intimidating, especially if they weren’t managing the budget before. When you’re adjusting to single parenting, juggling childcare or family daycare, tracking child support payments, and possibly exploring part-time work, your financial situation can feel overwhelming.
But contrary to popular belief, financial planning for single mums isn’t about spreadsheets or being financially savvy. It’s actually about creating a spending and investment plan that reflects your real life, tracking your income and expenses, and building enough savings to cover unexpected costs without panic.
Now this is the space Helen Baker of On Your Own Two Feet has dedicated her career to.
Helen is a seasoned financial adviser who specialises in helping women, particularly those navigating separation and rebuilding their lives. Her work is designed to help you take control of your financial decisions, reduce debt, manage payments confidently and build long-term financial security.
Her approach is refreshingly practical and deeply empathetic, focused on helping women move from uncertainty to genuine financial independence. Most importantly, she’s passionate about women’s financial independence and empowering you to truly stand on your own two feet.
Why We Trust Helen Baker With Our Wallets & Financial Planning
When it comes to financial planning for single mums, trust is everything. You’re not just handing over numbers on a spreadsheet—you’re sharing your fears, your goals, and the future you want for your kids. That’s why Helen Baker’s vibe matters just as much as her qualifications. Here’s why you can put your trust in her:
She Understands Real Life As A Single Parent
Helen isn’t about intimidating boardroom energy or talking over your head. She’s warm, practical and laser-focused on the very real challenges women face, including:
- Navigating a financial settlement after divorce
- Managing on a single income
- Understanding child support and child support payments
- Working out eligibility for government assistance
- Accessing Centrelink benefits for single parents
- Budgeting for childcare or family day care
- Balancing parenting, work and financial pressure
She knows that a financial settlement after divorce forms the foundation of your next chapter. And without structure, it can quietly disappear into everyday expenses.
Credentials That Back It Up
Helen Baker is an award-winning financial adviser with more than 15 years’ experience in finance. She holds two Master’s degrees and is the author of three books, including Money For Life: How To Build Financial Security From Firm Foundations (2025).
Her advice is grounded in study, experience and a genuine commitment to women’s financial freedom.
On Your Own Two Feet Is The Mission
But what we really love is the mission behind her business, On Your Own Two Feet. Helen founded her Australia-wide service to help women regain and retain their financial freedom. Her goal is to equip you with knowledge, strategy and confidence so you can make empowered decisions long after your sessions with her are over.
That ethical alignment matters to us at Beanstalk Mums. You’re resilient, capable, and already juggling a million things. The right financial adviser shouldn’t make you feel small or confused — they should help you feel informed, steady and in control. When you work with Helen Baker, financial adviser and advocate for women, the end goal is simple: you standing firmly, confidently, on your own two feet
The Biggest Myth About Financial Planning For Single Mums
The biggest myth we hear about financial planning for single mums? “I don’t have enough money to need a planner.” It makes sense. When things feel tight, financial advice can seem like something reserved for high-net-worth couples with investment properties and share portfolios.
But according to Helen Baker, that’s exactly when you need a plan the most. Financial planning is actually all about making smart decisions with what you do have. Even more so after a financial settlement after divorce, when one wrong move or a lack of strategy can quietly undo months (or years) of hard-won progress.
Here’s where a clear plan becomes powerful:
- Protecting your settlement: Without a strategy, funds can slowly disappear into daily payments and unexpected expenses. A plan helps secure your financial freedom.
- Creating a spending and investment plan that works in real life: Creating a detailed plan means tracking your income and expenses, planning for grocery costs, childcare, school fees and even affordable treats.
- Superannuation and long-term planning: Planning for the future matters. Even small savings contributions build long-term financial stability.
- Managing debt effectively: Listing all your debts and creating a manageable repayment plan reduces stress and helps you prioritise what’s essential.
You don’t need more money. What you need is a plan that helps you manage, reduce pressure, and feel in control of your financial direction.
Practical Steps To Regain Control & Prioritise Good Money Habits
When you became a single mother, your financial responsibilities shifted overnight. The key is to break your goals into manageable actions. Here are practical money moves for single parents inspired by Helen’s philosophy:
1. Create A “Sleep Well At Night” Emergency Fund
An emergency fund is designed to help cover unexpected costs, such as car repairs, medical bills or sudden school expenses. Even small, automated savings deposits build stability and peace of mind.
Aim to save gradually. Automate transfers so saving becomes a habit, not a chore.
2. Track Your Income And Expenses
Use a spreadsheet or budgeting apps to track your income and expenses clearly. When you track regularly, you can see exactly where your money goes. This helps you:
- Identify unnecessary expense patterns
- Reduce overspending
- Manage childcare and household costs
- Prioritise essential payments
- Tracking motivates you because progress becomes visible.
3. Understand Support And Assistance Available (Childcare, Child Support Payments)
As a single parent, you may be eligible for government assistance or financial support programs. This includes Centrelink benefits for single parents, child support payments and understanding the latest single parenting payment rates available to you.
Understanding eligibility criteria ensures you’re not missing out on support designed to help ease the transition.
4. Tackle Debt Repayment Step By Step
If debt feels overwhelming, list all your debts and create a clear debt repayment strategy. Focus on one milestone at a time. Structured repayment makes things manageable and reduces financial stress in the long term.
None of this requires perfection. It requires good money habits, clarity and consistent action.
5. Understand Your Settlement Entitlements
Before you can truly move forward, you need to understand exactly what you are entitled to in a settlement. This isn't just about dividing assets; it's about securing your foundation and protecting your financial future.
For more resources on navigating your work and finances post-separation, explore the Beanstalk Single Mums “Entitlements for non-working parents in a property settlement” article.
Financial Planning for Single Mums: How On Your Own Two Feet Can Help
If you’re ready to take control of your financial life, On Your Own Two Feet offers personalised women's financial planning services tailored to single parents at every stage. (Enjoy 10% off your first consult, because every Beanstalk Mum deserves a little extra support while rebuilding her financial confidence.)
One of the cornerstones of Helen’s work is the 5 foundations of financial freedom — a strategy that helps you build rock-solid financial security before moving on to bigger goals. These foundations include everything from emergency funds and a realistic spending and investment plan, to insurance, superannuation and estate planning — all essential pieces that protect what you have and set you up for long-term success.
If you’re not ready for a full consult just yet, Helen’s books are an accessible, uplifting starting point that still gives you practical tools and confidence:
- On Your Own Two Feet: Steady Steps To Women’s Financial Independence: A friendly, empowering guide to building financial confidence at any stage of life.
- On Your Own Two Feet Divorce: Your (Pre-divorce) Survive And Thrive Financial Guide: Perfect if you’re approaching separation or in the thick of negotiations and want clarity before you make big decisions.
- Money for Life: Explores the foundations of financial security so you can build strength and resilience into your money life.
Each resource helps you set financial goals, break your goals into clear steps, and work toward financial security.
Whether you grab a copy of her book to start your learning or book a discovery chat to map out your next steps, Helen’s support can help transform financial planning from something scary into something empowering, accessible and genuinely achievable.
Your Money, Your Power, Your Fresh Start
Money isn’t just numbers in an app. It’s stability. It’s options. The ability to secure your children’s future and feel peace of mind at night.
Financial planning for single mums is self-care in its most practical form. It’s about taking control of your financial direction, building good money habits, reducing stress and creating long-term financial confidence.
You already juggle a thousand things every day. Getting support with your money doesn’t make you less capable; it makes you strategic. And when it comes to women’s financial independence, Helen is one of the good ones. Go check her out.
