Risk changes as our life changes. While a teenager might not need to get unemployment insurance, a 35-year-old head of a household might. Engaging in risky behavior might not seem like it is always a monetary choice but think about a ski trip: If you do dangerous jumps and need to be airlifted because of an injury, it is not just a physical risk, but someone has to pay for the helicopter. Learn more about risky situations in your everyday life, how to deal with risks, and the consequences of risky behavior. Insurance is a tool for risk protection: we provide tips on how to choose coverage. In a nutshell: read the fine print and only buy the coverage you need.
Risk
Self Learning
Reflect on risky behavior:
- Think about the good and bad consequences of risky behavior?
- How likely are the bad consequences to occur?
- Should you engage in risk mitigation strategies?
While there’s no right or wrong number of risks you should take, you should only take risks you’re comfortable with. For those that you aren’t willing to take there are risk management and risk hedging strategies, like insurance.
Test
How much risk should I take in life?
If you’re not quite ready yet, learn more about the importance of risk literacy.
Emergency Fund
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