Founder’s Updates for Feb 2019

Kennedy
Kennedy
Mar 3, 2019 · 2 min read

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.

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
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