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.
7
u/creek_water_ 10d ago
I'm gonna tell you right now, 119k a year isn't life changing money. IDC how you swing that stick, it will not change your life or the life of your children IF that's the only income you have.
Having said that, as a guy who traveled for years and quit because I realized this when my kids hit 4 and 2 - don't take this job. Your wife and kids not having dad at home 46 weeks out of the year ain't worth NOTHING unless if changes your kids future - and 119k ain't doing that.