Conventional wisdom about the best ways to earn, spend, save and invest money maintains a firm grip on the minds of millions even as it fails to deliver. Mainstream media reinforces the dominant view of money via Live Richly (Citibank) and Live Life: Life takes Visa etc. Viewers, in turn, model their financial lives after advertisement messages. Whats in your wallet?

However, just because mega-financial industry companies also have mega-sized advertising budgets that allow them to shout the loudest and the longest, it certainly does not mean they have the best offer! That said, in the real world, the ability to dominate with ones message trumps potentially useful information from the little guy". Rarely does anyone question the gospel according to conventional wisdom about money. No one bats an eye as financial professionals direct average Americans down the path of paper net worth and debt leveraging.

The fact that all aspects of the global economic system, from its macro-complexity to personal finance guidelines are man-made seems to be lost on most people. Instead, the financial world is often considered akin to natural phenomena like the air we breathe. Such tacit acceptance makes discerning the risks inherent to the economic system itself, unlikely. But as any financial professional would advise, a thorough risk assessment is essential for effective decision-making.

With data citing that in 2006 Americans are attempting to live on 1967 inflation-adjusted median wages (The Chicago Tribune, January 22, 2006) and that in 2005 the very same Americans spend 39 billion more than they spent (The Wall Street Journal, January 3, 2006), something is very wrong with this picture. Anyone who is paying attention would agree. Yet. the powers to be say we have a strong economy. The question is: For who is the economy strong?

According to MSN Money, November 8, 2005, if you make less than $57,343 annually, you are either already or soon to be behind the financial eight ball. A whopping 75% of Americans fall into this category according to 2003 IRS statistics and are increasingly at risk of losing their purchasing power due to exponentially rising basic costs. That means its the top 25% of income earners who receive the greatest benefit from the way the economy is structured.

As for the 75% majority, getting out from behind the eight ball may well take an innovative approach. Heres why doing more or better of what youve been told are the best ways to earn, spend, save and invest may not get you where you want to go.

1. Millions who are doing all the right stuff when it comes to how they earn, spend, save and invest are still dealing with financial and personal hardships brought on by increased stress. The trend is towards becoming cash-poor with ever increasing debt loads, no matter how much money you make.

2. Incomes are not keeping up with the cost of living.

3. Americans are collectively spending billions more than they earn. Spending outpacing earning has not happened since the Great Depression of 1933.

4. The official rate of annual inflation (CPI) falls short of reality when skyrocketing costs of energy, housing, health insurance premiums and higher education are taken into consideration.

5. Retirement a la company pensions is going from being the rule to becoming the exception.

6. One of the fastest growing categories of homeless is the working poor.

7. Remedies to the money crunch offered by most financial experts rarely go to the root cause of the problem. No problem in life can be effectively solved without first uncovering its root cause.

8. Some financial advisors warn of the dangers of the saturation point. As regards personal finances, the saturation point is when a person MUST stop using credit because the debt-service they are already paying is the maximum they can afford given their other expenses and after-tax income. Then what?

9. Personal finance strategies have not changed with the economic times. They remain static: Find a job with full benefits, save a nest egg and purchase a home and invest as soon as you can is still the standard. Were driving Nash Ramblers in a Hybrid world.

10. The financial industry is self-serving and works to maximize profit like any other for-profit enterprise. So who benefits if you lack a more informed understanding of money? Are their products really in your best interest?