Studying for the CPA Exam is a long daunting journey that has more bad days than good days and more struggles than successes. At the end of the journey it is worth it and the sense of accomplishment is fulfilling. However, there were a few unexpected benefits obtained throughout the studying process that I wanted to share to those still studying or about to begin studying.
More Money In Your Bank Account – This has nothing to do with earning your CPA and getting a bump in pay. The fact that a lot of my social time was eaten up by studying meant that I was spending less money on going out and doing things. Of course you have to add the cost of the exams and the study material into the equation, but even still I had more money on average in my account because I was not going out as much. Going out for beers slowed down because studying with a hangover is the worst, but I didn’t completely abandon my social life, I just made some serious budget cuts to fun time. Less fun time equals more money saved.
Ability to Focus on Other Tasks Increased – The only way to pass the CPA Exam is to understand the material in your study guide. To understand it you need to be able to focus on the material you are reading and know how to apply it. The CPA Exam requires hours of study. These hours of studying hone your ability to focus. This new focus spills over into a lot of other things as well. I noticed I could focus on more tasks on hand outside of studying and even outside of work. Everything from focusing on my workouts to small repairs around the house got easier. You will get more accomplished with your newly found ability to focus.
Huge Self Confidence Boost – Passing the CPA Exam is a huge confidence boost. There is only a small percentage of accountants that can call themselves CPAs. It is a huge accomplishment to be able to do so. You know the CPA Exam pass rates – they purposefully make this exam difficult. Once you pass the exam you know that you are capable of putting in a lot of hard work, time, and sacrifice to succeed at a challenging test. The confidence boost will pay off in your career and personal life.
Studying is a Great Excuse – Just like parents with children, you can use studying to get out of things you do not want to do. Is there a social event you don’t feel like staying late for? Use studying for the exam as an excuse. Is a blind date going horribly? Use studying as an excuse. More than often studying will not be needed as an excuse because you will already be studying anyways, but just in case, it is a great excuse.
If an increase in pay, new opportunities, and bragging rights were not enough to take on the CPA exam maybe the four additional benefits listed above can help convince you. Checkout 7 Odd Exam Hacks not in your study guide for some additional help studying.