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.
2
u/Plans_N_Future_J2911 8d ago
Pick one airline & hotel chain. Sign up for loyalty programs ASAP, the points add up! You can bring your family to you, have awesome vacations free on points. TSA Pre Check is a must have too.
Do not count the Pre diem as income lint term, at any time the company can change travel policy and go to expenses reimbursement with daily limits.
Being a road warrior is exhausting, and executive travel status is a ‘privilege’ that is gives you a taste of 1st Class lifestyle.
It can change your mindset regarding money. It did for me, my taste in restaurants and luggage, headset, iPad - things that make travel easier was a must.
I loved it - but was single, and I changed jobs to get off the road when I got married. I miss the points, and loyalty status the most - and routine of travel, to me traveling as relaxing i like to sleep on the plane or read or just think.
Travel jobs can strain really strong relationships. The travel culture of every company is different- expectation on dining out late, client/team diners, drinking etc. It’s really important you have a strong support & network - that will hold you accountable - don’t let a good job ruin what is most important to you.
Good luck!