A tool to help you track progress when building a 'cash runway' out of sporadic income (consulting/commissions/sales).
For example, here's the formula I use (entirely done on pen+paper):
- All income goes towards booking deposits for future months. These deposits serve as that month's 'salary'.
- The value of these deposits varies. I've got two levels: 'Essential', 'Comfort'.
- First goal is to fill 6 months at the 'Essential' level.
- Second goal is to alternate between:
- bump an 'Essential' month (already filled by the first goal) to 'Comfort'
- Book another month with 'Essential'.
The tool could have the following:
- A calculator that would:
- Accept the following inputs:
- Income. Either as an average rate, or extrapolated from previous months
- Target salary
- Render a chart and a slider - showing how long it'll take to build 'x' months of runway. Updates in realtime as you tweak inputs.
- Accept the following inputs:
- A tracker that would:
- Accept the same inputs as the calculator, but not an 'estimated' income, rather - real values, updated by the user every month or two.
- Render a chart just like the calculator. This will have two core metrics:
- How many months of cash runway you currently have.
- How long it'll take you to achieve your goal (again, in number of months)
- Allow sharing this publicly (scaled to an imaginary currency, if people don't want numbers to be public)