Are you still running PHP version 5.6? Then update NOW!
Are you on a hosting that still is running PHP version 5.6? Then it starts to be high time to update to at least 7.2. Much hosting company have this already prepared, and you can do the update by choosing from a dropdown. And if they have not, you should put in contact with them as soon as possible.
The life cycle of a PHP version (eg 5.6) is 2 years. It is as long as support and security updates are launched. Then it is recommended that you update to the latest version. But the problem, as I said, almost all hosting company have this prepared, but is up to you to make the updates. So the next question is? Do people know about this? Yes, nerds like me do. But all the ones that have a webpage as a blog, or a landing page for a small company, and don’t care or know enough do they know? No, they don’t.
So why is it so important to update your PHP version?
The first and obvious reason is the security reason. Since December 31, 2018, there are not any more security updates for PHP 5.6.x released. So if you do not update you will be in risk.
PHP 5 has many known errors that relate to performance and memory usage. With PHP 7 many improvements has been done and sages will simply load faster in PHP 7.
Then we have WordPress, by the end of this month version 5.2, it’s expected to be released. And WordPress strongly recommend updating to at least PHP version 7.2.
What should I do?
Well, all versions of PHP 5 has stopped receiving security updates. And there are not coming more security updates. This alone should be enough to update.
So I strongly recommend you to make a backup on your page/s an update to 7.2. Even if 7.3 is out and has also been classed as stable, I would recommend to hold off 7.3 for a couple of months and let other people have problems with possible upcoming bugs.
If you don’t know how to get this resolved, you should contact your hosting service, and they will for sure help you how to do to get this resolved.
If you want to read more abputPHP 7.2, here is a good start