Financial Wellbeing Wheel

Building on our Personal Satisfaction Wheel we have developed a unique financial self assessment tool aimed at helping you identify areas in which you are at financial risk or need to focus your effort towards achieving an environment of personal and family financial freedom

To make your own financial wheel of life follow the questions below. There are 40 questions in total and it should take approximately 10 minutes to complete. To receive a short personalised report on your wheel, simply add your name and email address.


If you would like your usual financial advisor to receive a copy of this please provide their email address below


wol 1. Overall financial well being

When I think about my financial situation I feel secure
I know that no matter what life brings my way – serious illness, reduction in income, the death of a partner- my and my family’s finances can bear the strain and desired lifestyle is protected
I feel that my life options and opportunities are in no way limited by my financial position
I understand fully the levels of financial risk to which I am exposed and am comfortable with that risk
I feel that I fully understand my financial life plan and am working towards its achievement

wol 2. Net income position

I never find myself looking forward to ‘payday’ urgently, as my financial resources are always adequate to see me through
In describing my cash position at the bank I would say that I always have enough for my needs
I have seen a gradual progression in my ready cash position over the last 5 years
I am able to contribute generously from cash flow to the charities and causes that are important to me
I do not need to use my credit cards for any purpose other than cash management

wol 3. Emergency cash fund

I maintain cash totalling three months’ expenses in an easily accessible account
I am able to increase this cash account by the equivalent of two months expenses each year
I can think of no emergency expense that I would not be in a position to comfortably meet from my cash resources
If for some reason I wanted to take a six month career break or extended unpaid holiday I could comfortably afford to do so
I am in a position to make major family purchases (new car, kitchen etc.) if I need to without having to resort to arranging finance

wol 4. Short term borrowing levels

I clear my credit card bills in full on a monthly basis
I never make significant purchases on finance terms of longer than 12 months
It is my policy to wait until I have adequate cash available before making any significant purchase rather than to incur debt
Short term finance payments (i.e. bank loans, car loans and any other personal loans) do not account for more than 10% of my net monthly pay
I always use my savings when I change my car and do not require any kind of financing arrangements

wol 5. Exposure to financial risk

I fully understand the short, medium and long term risk associated with every financial asset I own including property
My property, including buy to let investment property if relevant, carries borrowings of less than 70% asset value
My savings, investment and pension funds are held in asset classes that are appropriate to my personal risk profile
My financial adviser regularly updates me with the volatility levels existing in my portfolio and advises me as to what this means for me
Any investment property I own is let to a trustworthy tenant on a long term lease who pays her or his rent on time. (If you own no buy to let property then agree strongly)

wol 6. Contingency arrangements

I have made arrangements for my mortgage and other debts to be repaid in the event of my death
My dependents’ financial position is completely secure in the event of my untimely death
I am confident that my current lifestyle remains viable in the event of long term illness restricting my earning power
My partner and I each has a clear understanding of the other’s financial plan in the event of death or long term illness (if you are single then agree strongly)
My family finances are structured in such a way that in the event of my untimely death all short term financial needs could be met whilst my estate was going through probate

wol 7. Long term funding plans

I have a clear understanding of how much income I will need to maintain my lifestyle when I cease full time work; of how much I have already accrued and of the shortfall that needs to be funded
I have a clear and detailed understanding of how much capital is required to fund for this shortfall and am on track through my long term funding activities to accumulate this.
I know precisely how I wish to structure my transition from full time work to full time retirement, have worked through the cash-flow planning around this, and am confident that my lifestyle ambitions will be met both during and after the transition
I have examined all the possible alternative pension structuring models available to me and am comfortable that I (in conjunction with my employer, if relevant have chosen the correct option
I am aware of, and have taken steps to mitigate all potential risks – regulatory, structural and investment - to my long term funding arrangements. I am confident that these arrangements are secure.

wol 8. Personal Financial Freedom level

What I would do with my life if money were no object is exactly what I am doing with my life now.
If today was my 80th birthday and I was assessing my life journey I would be able to say that I had been totally fulfilled and that my financial resources had contributed positively towards this state of affairs
There are no dreams or life aspirations that I have that I do not have the financial resources to accomplish
I’m able to say that I am financially free to live according to my own personal vision and values rather than those of any other individual or corporation
I control my finances fully; they do not control me.