If your game is big enough, I would suggest a timer manager. Have one big timer based on the pygame.Clock. Create methods, to register time and methods to be called when the time passes. So something like:
timerMananger.register(self.myMethod,5000)
# registers an event to be called after 5 seconds
The manager should encompass the Clock, as well as have a priority queue of tasks to complete. A short sketch of how this would look like:
def register(myMethod,t):
pqueue.add(myMethod,time_now+t)
def tick():
clock.tick()
if(time_now > pqueue[0]):
pqueue.pop()[0]()
This way you only check the most recent event. You could change the if to a while loop, if there will be many events, so that they will be all processed at once.