A phrase downplaying the importance of something, often as an attempt at consolation when someone doesn't achieve it. Most commonly used in reference to money or winning. I know you're bummed out about losing the big game, but winning isn't everything. After all, you played really well, even though your team didn't win. When you think of how many celebrities have had trouble with the law or have struggled with substance abuse, it's a powerful reminder that money isn't everything.