Support My Efforts By Visiting The Advertisers

Disclaimer

This is a personal blog. The opinions expressed here represent my own, not those of my employer and is not intended to malign any religion, ethnic group, club, organization, company, or individual.

Complacency In Human Nature

>> Tuesday, June 29, 2010

We all tend to ignore risk.

For example, we all know that losing our mobile phone is a possible risk and the consequences can be very severe. How do I get all my contacts back? Possible usage abuse? Replacement and opportunity cost? And so on. However, how many actually take the precaution to back up their contacts regularly, have the proper locks and passwords in place.

What about our laptops? What if it gets stolen, spoils or hacked. The loss of private and confidential data, the loss of use for the duration, etc. However, how many often create a back up of their information, install the latest anti virus and firewalls, take steps to prevent it from being stolen.

We have heard the horror stories: someone's private video on the phone being shared to the world when it was lost or all the companies clients information lost together with the laptop. Some even closer to home, maybe a friend's phone being lost and asking you for your number again or a friend being missing from online activities due to computer being down.

We are aware of the risk and constantly reminded of it. Similar to proper financial planning, we know of the consequences of mismanaging one's finance and the risk involved. We know that credit card debt has high interest rates, yet many still live on its credit. We know budgeting allows us to live within our means, but not many bothers to plan for it. We know insurance transfers risk, but it just seems like an unnecessary expense for something that may or may not happen. We know investing requires a strategic approach, yet many still take a piece meal approach basing their decisions on rumors and tips.

It is due to our complacent nature that we choose to ignore risk. Hence, a mindset change is necessary to take a proactive approach to manage risk.

0 comments:

Disclaimer

Privacy

The owner of this blog does not share personal information with third-parties nor does the owner store information is collected about your visit for use other than to analyze content performance through the use of cookies, which you can turn off at anytime by modifying your Internet browser’s settings. The owner is not responsible for the republishing of the content found on this blog on other Web sites or media without permission.

Blog Comments

The owner of this blog reserves the right to edit or delete any comments submitted to this blog without notice due to;

1. Comments deemed to be spam or questionable spam
2. Comments including profanity
3. Comments containing language or concepts that could be deemed offensive
4. Comments that attack a person individually

Terms and Conditions

All content provided on this blog is for informational purposes only. The owner of this blog makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. The owner will not be liable for any errors or omissions in this information nor for the availability of this information. The owner will not be liable for any losses, injuries, or damages from the display or use of this information.

This policy is subject to change at anytime.

About This Blog

To promote the education of individuals for the need to have a healthy lifestyle and wealth management through proper financial planning, particularly in investments.




Top Blogs


Awards

Top Sites

  © Blogger templates Sunset by Ourblogtemplates.com 2008

Back to TOP