Last week I wrote about limits. In short: One dollar is just one dollar. One hour is just one hour.
However, the opposite is also true, in the sense that there is some elasticity when it comes to how money and time work. This week I want to provide some additional examples and thoughts.
First, one dollar invested can grow. Or it can shrink, as sad as that fact may be. Also, the value of a dollar can change due to inflation or deflation. So, yes, even though a dollar is just a dollar, it can become something else in terms of what it can do.
Note, also that time and money can be exchanged. When you are working, you often trade time for money. The reverse is also true. Sometimes you can buy something that saves you time. In this latter case, an hour is still an hour, but the task that used to take an hour can now be done in less time.
In terms of time, it’s useful to note that on average we humans are living longer than we were in centuries past, so we have more time than or ancestors. In addition, maintaining healthy habits can increase our time on this earth. Similarly, certain medical interventions can lead to a longer lifespan. Again, an hour is just an hour, but sometimes we can have more hours.
What does the above have to do with plain text accounting? The point is that if you are using plain text accounting, you probably have a feel for limits. You are not like the person who was asked about what they would do if they won the lottery. They responded that they would use half for X, half for Y, and half for Z.
As someone who uses an accounting system, you know that you cannot spend the same money twice. However, it’s good to know that there are ways that money and time are not 100% static. Just be careful how you plan to use your lottery winnings.