When two people choose to have a baby, their worlds change forever. But what if you're on your own? How does a single person plan for a child when there's no second income to fall back on, no partner to back you up when the baby's sick, and no double array of benefits to choose from?

Single parents don't have it easy. They have to plan more carefully, put together a tighter safety net and develop a stronger support system than couples do. Yet, by chance or by choice, more and more single women are becoming mothers. According to New Families, New Finances, an estimated 5.7 million families are headed by a never-married single parent. And that number is growing.

So if you're a single mom, whether you've never married or are recently divorced, you're not alone in facing huge emotional and lifestyle changes. And as the sole caretaker of your kids, one of the biggest challenges you face is your financial stability. Here are five ways to get ready.

Review your insurance safety net.
A parent should have three types of insurance in place: health, disability and life. Make sure you have health insurance that covers pregnancy and well-baby checkups as well as at least 80 percent of delivery charges. If you have coverage through an HMO or preferred provider network (PPO), check to see whether your obstetrician and pediatrician are on the list. And don't forget to add your new baby to the policy right away.