"To understand the consequences" means to fully grasp or comprehend the potential outcomes or results that may occur as a result of a certain action or decision. Full definition
Seniors don't understand the consequences of a reverse mortgage because they are expected to be completely responsible for knowing if a reverse mortgage will harm them or benefit them. (fhaloanpros.com)
For my part, I fully understand the consequence of putting your signature to a contract. (citifmonline.com)
Parents can then teach ADHD children to conform to rules and better understand the consequences of poor behavior. (wisegeek.com)