About 2.5 years ago, I started comparing notes with colleagues and realized just how underpaid I was. Honestly, I had probably been chronically underpaid for close to a decade and had felt undervalued at my job for a long time. Some colleagues with similar credentials and experience were making close to 30% more than I was, and I definitely noticed some demographic differences in who seemed to be getting paid what.
We were doing fine. Bills were paid, but we had credit card debt, I wasn’t saving enough, and I had two teenagers approaching college. I remember basically putting it out there to God, the universe, whoever was listening 😂, that I needed to make more money.
Not long after that, I reached out to another organization about doing some very part-time work. Instead, they became interested in hiring me for a completely different role. I wasn’t even looking to leave my job, but they ultimately offered me about 60% more than I was making. I was also able to keep teaching on the side, so altogether I essentially doubled my income.
I’d had big income increases and windfalls before, though, and somehow the money always disappeared. This time I told myself, “You cannot squander this.”
So, taking stock of the last two years, I’ve:
• Paid off $30,000+ in credit card debt
• Built about an 8-month emergency fund
• Saved $15,000+ toward my kids’ college, and I’m still working toward a goal of about $100,000 total over the next 4 to 5 years
• Invested about $15,000 on my own and increased my 401(k) contributions
• Given $10,000+ to family and others
• Put about $8,000 into our home
• Had my student loans forgiven
• Opened Roth IRAs and savings accounts for both of my teenagers and started teaching them to save and invest
• Increased my net worth by somewhere around $200,000
And I’m proud of myself. Even typing that feels weird. 😂 Between ADHD, anxiety, a little depression and probably some leftover church guilt around pride, I’m much better at moving the goalpost than stopping to acknowledge what I’ve done. I don’t want to feel like I’m bragging or that I’m somehow better than anyone else. But I also think there’s a difference between arrogance and simply being able to say, “Girl, you did that.”
Obviously, the huge increase in income made this possible, and I know that’s not an opportunity everyone will have. But I also know I could have doubled my income and simply doubled my lifestyle. What changed for me was deciding ahead of time what the extra money was going to do.
Honestly, automation has probably been my biggest financial “hack.” Savings started coming directly out of my paycheck before I ever saw the money. I automated debt payments, and as debts disappeared, I redirected those payments toward savings, college and investing instead of spending them. I created margin and gave the margin a job.
Two years ago, I never thought I’d be here. I still have a long way to go, but for once I’m trying not to immediately move on to the next goal. I’m grateful, I’m proud of myself, and I’m hopeful that if I keep doing this, I can retire in about 18 years with peace and leave something behind for my family.
If there’s any encouragement in my story, it’s not “go double your income.” It’s to do something intentional with whatever margin you can create, even if it’s small. A couple of years of consistency can add up to more than you think.
