How Accounts Balance Work & Life

by | Mar 11, 2022

An accounting intern for a Big 4 firm shared their struggle balancing work and personal life. Working long hours and feeling exhausted, they wondered how to care for themselves during the busy season. A seasoned accountant shared their insights on balancing work and life like an accountant would balance a financial ledger. The key is to track your gains and expenses, maintain clear communication, and leverage the future for a more balanced and fulfilling life.

Practical tips that can help:

Pay close attention to receivables

When it is time to collect on a day off, ensure you take it. Log the time you spend, so you know where and why you are spending it.

Know your cash flow

Understand how much fuel you have in your tank. When feeling burned out, take a break. Get up and walk around. Fifteen minutes of personal time or an actual lunch break can make a difference in the middle of your day.

Log expenses

Decide if the expense is worth it. Log your time so you know where and why you are spending it.

Record your cash expenses

Collect the benefits when you swap out personal time for work.

Know the difference between invoices and receipts

Don’t mistake wanting something (invoice) for receiving something (receipt).

Keep personal vs. business life distinct

Never merge the two.

Hire a professional

Sometimes, additional help will be needed. Whatever it is, if it helps you, it is worth it.

Maintain clear communication

Always be transparent in a professional way.

Understand double-entry bookkeeping

Be aware of the purchases you make with your time and the gains you receive because of the time you spend.

Chart your accounts

Establish multiple accounts for the most well-rounded view of your life.

Prepare a financial statement

Reconcile and see if what you are doing is falling in line with your life goals.

Leverage the future

Never build another person’s future if it means neglecting your own.

Final Thoughts

By following these tips, you can balance your work and life like an accountant and enjoy a more fulfilling life. Remember, it’s not just about working harder; it’s about working smarter and living a more balanced life.

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