Couldn't get promoted. What am I missing!

I'm on year end holidays, I was expecting a promotion this cycle, but came to know that I have not been promoted this time. It has been 30 months at a particular designation, has been working hard, got a completely new role as a scrum leader in the year starting and has been managing 2 teams since then with no escalations. Facing financial stretch at the moment as I've become a father recently. A promotion would have helped. I am not able to understand what is missing 😔