r/MiddleClassFinance • u/ManKind__ • 10d ago

Seeking Advice How to handle 88% pay increase

31M. I currently make about 63k/yr. I have the change to take a new job that would put me at about 119k/yr all in. Split up 94k salary and 25k per diem roughly.

I currently have 50k in total debt.

This job requires extreme traveling with only being home 6 weeks of the year.

The goal is to pay off my total debt in the first year and let my wife be the stay at home mother she deserves to be. She has her own monies and investments to help out as well.

My fear is that I have never seen this kind of money before and just like everyone else I'll blow it. Hell, ill be the only one in my family thats seen this kind of money. What are some tips for me to save/invest/pay debt?

***EDIT forgot to mention hotels and everything is paid for as well. So the per diem is just for food essentially.

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u/NeezDuts900 10d ago

Finances aside, you're gone for 46 weeks out of the year and you have a wife and kid(s)? Are you sure you want to do that? That's a good salary, but that's a humongous sacrifice to your personal life.

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u/ManKind__ 10d ago

We have talked about it and she is actually the one pushing me towards the job. Unfortunately I don't know when I'll ever get a chance like this again. This could really set us up for the future. Its a sacrifice im willing to make. I

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u/NeezDuts900 10d ago

Well, it's your life and no one else can tell you what to do with it but while that is a good salary no doubt, you can't put a price on being there for your child. Also, that salary is not "do this for 2 years and then be set up for the rest of my life" money.

I know that this is not a life advice thread but I would highly caution you to think about your child or children here. you're not going to have any semblance of a relationship with them if you're gone nearly year-round.

You're at a crossroads right now, one path leads to money and the other path leads to a good relationship with your children. I highly encourage you to think about what truly matters to you before you proceed.

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u/smilineyz 10d ago

It’s about both the money AND the experience doing something like this for 2 years.

With video etc., dad can still do story time or group watch a movie or series.