Financial Risk is Amplified as Money and Jobs Tighten.

When times get hard, Financial Risk, some commit crimes to acquire the cash they want. In extreme cases some commit crimes in order to feed their families.

While we need law enforcement to deal with criminals and remove them from our society, it is unreasonable to depend on them to protect us from risk in all environments. The “buck” still stops with us.

Today, it is asking for trouble to carry extra amounts of cash. It is our responsibility to learn how to be alert and recognize situations and people in order to keep the shield in place and not be abused by the bad guys.

The financial system makes carrying large amounts of cash unnecessary by using a debit and/or credit card. These are also great opportunities for the criminals.

Any time we present a debit and/or credit card to any merchant, we create an opening for some opportunistic, unscrupulous individual to steal. If a debit card is presented, your bank account is exposed. If a credit card is presented, your entire credit is at risk.

If that opportunistic, unscrupulous individual is successful in:

• breaching whatever shield you have in place;
• proceeding to open new accounts in your name;
• charge items to you, up to the credit limit you have worked so hard for;
• removed the cash available in your checking and/or savings accounts;
• acquiring medical services in your name, and much more,

the grief, expense and time to correct the damage is awesome!

The prudent person considers their risk. They shield these items as a most valuable asset. They are!

Another consideration is cash flow and money management. Businesses need to be very aware of the financial risk they can expose themselves to without good cash flow and money management procedures.

Business Building Resources is a free site dedicated to providing businesses with information on all aspects of business building including a section dedicated to cash flow you may find useful.