The singer, who wowed the judges with his rendition of Tracy Chapman's 'Fast Car', is currently living on a caravan site with his parents and works as an apprentice IT engineer.
Collins also has a fiancée, Sophie, and 8-week-old son Jamie who he wants to buy a home for.
"At the moment I'm still in the caravan with my parents so it would be great to get a place for Sophie, Jamie and myself," he told the Sunday Mirror.
"That's the main reason behind me doing this, to take them with me and provide for my family. It would be such a relief not to have to worry about money all the time like we do now."
He continued: "It's all the little bills that you don't remember about. Before you know it companies are trying to take the money out of your bank account and you haven't got enough in to pay.
"I'm still an apprentice so I'm not earning anywhere near as much as I'd like to and I worry about bills all the time. If this goes well it would be my dream to put a deposit down on a small two-bedroom house."
Collings's first audition earned him comparisons to previous BGT star and YouTube sensation Susan Boyle.
> Michael Collings - Better than SuBo?
Watch Michael Collings's Britain's Got Talent audition below: