If I were to pick one area of life that most people have a challenge with, this is it. Money troubles are very common, however, you’ll see it’s not about how much or little you have.

So take a few minutes to complete your Money Wheel, then you can focus on the areas where you have the lowest marks. It’s never as bad as you think when you break it down.

Give yourself a score out of 10 on each topic, using the prompts below to help you decide where you are on the scale.

Worries vs confidence

We’re starting with a score for your general feelings about money. Specific areas, such as credit cards or your salary, will be covered later. Here we’re looking for your underlying gut feel, your attitude, how you generally ‘feel’ about finances. So, if you feel super confident, it’s a high mark; if you worry about money all the time, it’s low. You may be somewhere in between but follow your gut on this one and give yourself a mark.

Savings

Do you have any? Some people spend everything they earn, others always save no matter what they earn – it’s a mindset. If you think ‘If I earned more then I would start to save’ then I’m afraid it’s a lower mark and, of course, if you have savings well in place then it’s high.

Savvy

Savvy here means the financial know-how. You know, that knowledge that some people have and others envy. Are you one of those people who have a flair for spotting good deals and actually enjoy ‘playing’ with money? Or are you bewildered by the world of finance and unsure if you are getting the best deals or advice?

Debt

You may be surprised to learn that you are not going to mark yourself here on your level of debt. Some of the best deals in the world have been funded using ‘OPM’ (other people’s money). It’s about your control and management of debt.

When those ads appear on TV claiming that ‘because of a little known piece of government legislation you can have your debts written off’, do you think ‘Wow, should I give them a call’? Low marks if this is you!

If, however, you feel happy about your level of debt and how it helps you to live your lifestyle and leverage your money without worry, then you get a high mark.

Debt is subjective. Some people believe you should have no debt, others see it as an enabler. That’s why you are going to HONESTLY score yourself for how you feel about debt and how you handle that feeling now.

Lifestyle

Do you make the most of cash-saving opportunities or does your lifestyle cost you a fortune? I’m not talking about being a Scrooge for scrimping or an Elton John for a lavish lifestyle; just simply, is your lifestyle beyond or within your income?

If you live well within it’s a high mark. If you spend more than you earn it’s a very low mark. And if you’ve never considered it then that’s a low mark, too!

Investments

Do you know how to invest? Do you know the difference between a good and a bad investment? Do you know the difference between cash savings and investments? Have I confused you already?

If you have good investments that are working well for you then you’ll get high marks here; no investments and you get low marks, and for making some poor investments you can have midway marks – at least you’re trying!

Management

If you have good money management skills you’ll know exactly how much you have in your bank account right now. You’ll know how much you owe, when it’s due and have a clear plan as to when you are going to pay it.

If you have poor financial management then you’ll feel like you are in the dark when it comes to your finances – you’ll probably have standard excuses like: ‘I’m just not very good at managing my money.’ At the end of the day you are doing this exercise for you and you alone, so give yourself an honest mark.

So, that’s it, your Money Wheel is complete. Join up the marks and notice the areas where you could do with some money magic. Some of the advice I’m about to give will be a challenge but if you take action it will also be one of the most rewarding things you will ever do.

It’s time to turn to the chapters where you have a lower mark and take action where action is most needed.