Should I be concerned about updating the PHP on my website?

It is normal for your website to ask for a PHP update. Make sure to back up your website before you update it, but it’s important to update your PHP when your website asks for it so things can keep working as they should.

Remember, your website is never “done.” Your business changes, and so does technology, so you’ll have to deal with software updates. As long as you have a theme that is regularly updated (and you update it regularly), it should keep up with the WordPress and PHP updates. 

Here's a website maintenance video Nicole Sauk did if you want to see more about what you should do to keep your website running smoothly https://youtu.be/a03zjTtGk_k