2019 is off to a great start — It has been six months since the soft launch.
Going forward I will be sharing updates about my financial status monthly. In this post, I will share my financial status for February and a financial overview from the past six months.
February 2019
January was the first month I was able to get caught up on all my bills. A massive success to that was my freelance income. I have been earning substantial pay since December. This month I was able to pay off two credit cards and put enough money aside to cover all of my survival expenses for March, a.k.a. Aged Money.
Survival Expenses - Your expenses that are non-essential to stay alive. For example, entertainment expenses and debt would not be included.
Founder’s Financial Status
Stage: Solvency
Net Worth: -$-49,740.47 (+28%*)
Assets: $310,332.68 (+2%*)
Liabilities: -$-360,073.15 (-3%*)
Cash Flow: $15,744.14 (+111%*)
Income: $24,107.61 (+50%*)
Expenses: $-8,363.47 (-3%*)
Debt-to-Limit: 31% (-3%*)
Debt-to-Income: 21% (+3%*)
Credit Score: 554 (+18%*)
*Percentage change from last month.
The past six months
My primary financial goals over the past six months were to increase income and pay off debt. When I started this, my Net Worth was -$109,375.33, and now it is -$49,740.47. That is a -$59,634.86 difference, a 55% increase. My Cash Flow increased from $1,255.63 to $15,744.14, a 1,153% increase. Granted as I am working freelance that number will fluctuate wildly up and down.
“Your net worth to the world is usually determined by what remains after your bad habits are subtracted from your good ones.”
— Benjamin Franklin
Product Update
We are still in Alpha, which means that we are still testing with a tiny group of people. We will release to Beta once we feel confident about our security and we iron out a few more details. Despite my decision to be fully transparent with my personal financials, I understand not everyone feels the same way as I do. Therefore, I am doing everything to ensure your account won’t be compromised.
⨳ Kennedy
Founder of FiStatus
View Founder’s Dashboard
