Chronic Hazards

There is a whole new vocabulary in Cowboy Safety.

When we think of safety we usually think of protection from harm that can come from a sudden event. We think of car crashes, fires, falls and so many other things.

What about protection from long term harm? How do we avoid wasting time when building a career, a business, a family, or a marriage? How can we know that we will not end up in later life with nothing but regrets?

In medical terminology there are acute and chronic things. Acute is short-lived or sudden. A chronic condition usually lasts more than three months. A heart attack is an acute event. Heart disease and its causes is chronic.

Property and casualty insurance only covers the sudden things. Did your roof gradually rot away? Insurance will not cover it. Did a tornado or hail storm do it in? You're covered. Either way the roof needs replacement.

Hazard  analysis the Cowboy Safety way means to deal with what we will call a chronic hazard as opposed to an acute hazard, By using medical terminology we indicate that there are cures though not the same in each case.

Here and in the Principles blog we will be dealing with this subject in more detail. In the interim be thinking of the things that can affect your life, your career, or your business over a long period of time. It can be actions, omissions or attitudes.

A long term hazard may involve uses of money. Young folks often feel that they have plenty of time to deal with money issues. At what point do they become old enough to really get serious about it? The magic of compound interest requires time. The younger you start the better it works.

One of the oldest cures for the chronic condition of being broke, behind the eight ball or whatever involves a simple idea that has been around for a very long time. Put aside 10% of your income for savings as soon as you get it. Pay yourself first. Use the next 20% to pay off debt. Live off the other 70%.

We will be getting into others that are of at least equal value. If you have any ideas, comments, or questions please leave a comment.

David Sneed