For many people, learning about personal finance at the level required to truly prosper feels intimidating. It's as if we feel handicapped in that arena, when, in fact, we haven't exerted the energy necessary to learn and follow basic principles — earn more, hold onto more, spend less, manage debt, and invest for maximum return. Where you put your energy is where you blossom, and learning about personal finance is a very worthwhile expenditure of your time and energy.

Some immediate tasks that you need to undertake are as follows:

• Create a household inventory for insurance purposes.

• Copy and store important documents like birth certificates, passports, deeds, loan documents, insurance policies, divorce decree, wills, and car titles in a fire safe and at a relative's or friend's house. Make sure others know where they can find this information in an emergency.

• Set up a system to manage bills.

• Balance your checkbook monthly. If you need help with this, ask your local banker to help you reconcile a statement. Computer programs can also do this for you if you simply input the information.

• Check all credit card statements to make sure the charges belong to you, and match up corresponding receipts. Set up a file for each credit card so you can access each statement easily if a problem arises.

• File deductible receipts in a tax file, and file warranty receipts in a warranty file.

• Check tax returns, and establish a file for each of the last five years. Unless you bought or sold a house or large assets, such as stock, you can toss returns more than five years old.

Learning financial concepts frequently feels like studying rocket science, so give yourself a little leeway to feel jumbled, stymied, and even childlike. Learning how to organize and take responsibility for financial matters on your own — all while balancing parental responsibilities — may present a sharp learning curve. But if you simply read along and do the work step by step, one day everything will begin to drop into place.

Get Organized

One of the first tasks you face is organizing all of your financial records and maintaining them. It may be a drag to do this, but apparently there are differences between those who get their lives truly organized and those who procrastinate, or simply fail to do so. According to Jean Chatzky in The Ten Commandments of Financial Happiness, the differences are striking.

Set Up a System

The best way to take responsibility for money management is to set up a system that works. Select a drawer, a file holder, or a basket where you place monthly bills. Open all mail when it arrives. Discard junk mail, and immediately shred all those endless credit card offers. Then, put all your bills into the designated, easily accessible drawer, file, or basket.

Create a monthly payment schedule to remind you when bills are due. You can opt to have most bills arrive the first of the month, the middle of the month, or the end of the month. If you have sufficient funds in your checking account, pay bills when they arrive. Alternately, set up automatic payments from your checking account, or select at least two days a month when you pay bills.

It's prudent to buy and use an accounting program, which is very easy to use and helpful in simplifying and expediting your bill paying. The savvier you become, the more you can create reports that show you how you are doing on credit card debt, budgeting, saving, and managing your finances in general. Remember, a single mother needs to accept responsibility for her financial fate, particularly if she hopes to avert disaster and bolster her chances of amassing wealth.