Risky behavior is the kind of lifestyle like smoking, alcoholism, shopaholic etc which increase the risks of one's getting into risk of suffering. The effect it has can be:
1) It can lead to low self esteem with an immense feeling of guilt or shame.
2) Elevated or unbalanced emotional conditions can b an effect of risky behavior.
3) A depressed mind, which if elevated can cause actual physical pain.
4) Pessimism, looking at world with a negative approach.