Answer and explanation;
 Understanding risk management topics is important in everyday life as it can; 
-Help safeguard your credit and protect you from lawsuits. 
-Also help one to avoid large medical bills.
Risk management involves identifying, assessing and controlling threats to an organization's earnings and capital. The risks may originate from a variety of issues such as legal liabilities, accidents and natural disasters among others.
- Help evaluate the risks involved with situations you might face while driving, hanging with friends, or being adventurous.