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Time is NOT Money

October 3, 2021
The US is opening up more by the day. As Robert Frost said, life goes on. Shannon recounts a time when he managed to save some time and give time back to someone else.
CPA Firm Profitability
Shannon Vincent

In our fast-paced society, it's easy to fall into the trap of thinking that time is money.

However, this old way of thinking is no longer applicable in today's world. Time is not money; time is your life.


You can always make more money, but you cannot make another minute. It's time to shift our mindset and start treating time as the precious resource it truly is.


As the world begins to open up following the COVID pandemic, it's important to reflect on what we learned about time management during the "great pause." For many of us, the pandemic forced us to slow down and re-evaluate how we spend our time. We realized that we had been wasting time on what we will call "unnecessaries." These are things that do not add value to our lives but instead drain our time and energy.


Take, for example, the story of a doctor's appointment. In the past, we may have thought nothing of spending an hour driving to and from the appointment, waiting in the waiting room, and then finally seeing the doctor. However, during the pandemic, many medical professionals started offering telemedicine appointments. This allowed patients to have a virtual appointment with their doctor from the comfort of their own home.


By taking advantage of this opportunity, we can save ourselves a significant amount of time. We can also reduce our exposure to potential illness by avoiding crowded waiting rooms. Furthermore, we can give time back to others, such as the physician's assistant mentioned in the example above. By freeing up their schedule, we can help them be more efficient and effective in their work.


Of course, it's not just medical appointments where we can save time. We can also reduce the amount of time we spend in meetings, checking emails, and even commuting. By making small adjustments to our daily routine, we can save hours each week that we can then use for more meaningful activities, such as spending time with loved ones, pursuing hobbies, or even just relaxing.


It's time to shift our mindset and start treating time as the precious resource it truly is. Time is not money; time is your life. By reflecting on what we learned during the pandemic and making small adjustments to our daily routine, we can reclaim our time and live a more fulfilling life.


Taking Action:


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About the Author:


Shannon Vincent has dedicated his entire career to working with accountants in various capacities. He has consulted with Top 100 firms to Sole Practitioners, helping them create sustainable and profitable businesses. A member of the California Society of CPAs, he received a Bachelor’s Degree in Economics with an emphasis in accounting from University of California, Santa Barbara, and now resides in the San Francisco Bay Area. Shannon is passionate about helping accountants and firms better manage their time to improve productivity.


About Renew Group:


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