A Financial Black Box?
Dr. David Warren of the Aeronautical Research Laboratories in Melbourne, Australia, invented the “black box” flight data recorder. He was the first person to conceive the idea of recording the flight crew’s conversation on an airplane and protecting that recording in the event of a crash or fire. The purpose of the black box was to help identify the reasons for a plane crash by recording any clues in the flight crew’s conversation. The black box was invented in 1953 and in production by 1957. The first ones were painted bright red or orange to make them easier to find after a crash. In 1960, Australia became the first country to make flight recorders mandatory in aircraft.
Like a black box that provides documentation in the event of a crash, each moment, each decision or choice made is being recorded. God sees everything you do. Everyone makes mistakes, but what do you do when you make mistakes? Turn to the source of creation or cover it up and move on? When financial disasters come your way, there are typically patterns and behaviors that create the problems. If you take the time to examine all the things you are doing and what you could do better, you have a better chance of avoiding major crashes.
Make a conscious effort to have your financial plans evaluated regularly. Just like a plane needs regular tune-ups and scheduled maintenance, your financial life should be evaluated on an ongoing basis. You may be well on track today, but tomorrow’s events may change your circumstances. Be prepared for any change and be ahead of the curve. You will feel less turbulence, and you will be ready for any bumps along the way!