Core Insights - A significant increase in salary can lead to challenges in financial management, as seen in the case of an IT professional who received a job offer doubling her salary from $125,000 to $250,000 [1] Financial Management Strategies - Establishing an emergency fund is crucial, ideally covering three to six months of expenses, and should be kept in a high-yield savings account [4] - Creating a debt-repayment plan is essential, focusing on high-interest debts first using methods like the avalanche or snowball approach, while maintaining regular payments on low-rate long-term debts [5] - To avoid lifestyle creep, it is recommended to maintain the previous lifestyle for three to six months and implement a "raise rule" where 50% to 60% of the raise is saved or invested, 10% is allocated for discretionary spending, and the remainder is used for debt repayment or savings [6][7]