The Wheel of Life and Achieving Balance

How These Nine Aspects of Daily Living Can Help You Find More Fulfillment
Kathy Longo, CFP®, CAP®, CDFA Wednesday, 12 October 2022

The Wheel of Life and Achieving Balance

What does it mean to live a full and balanced life? A truly rich life – literally and figuratively?

The literal aspect of the question is something that I focus on daily as a financial planner. I enjoy helping people identify the ways in which their hard-earned money can help them achieve their financial and personal aspirations. Something I realized many years ago, however, is that money is about much more than dollars and cents. Having the technical aspects of personal finance in order is important, of course. However, to enjoy feelings of true calm, confidence, and clarity around our money, we must also embrace the emotional side of wealth management. To help you get there, I want to introduce a concept called the Wheel of Life.

What is the Wheel of Life?

The Wheel of Life is something I introduce to every client I work with at Flourish Wealth Management. It was created by Money Quotient, Inc. and it represents the nine core areas where we tend to spend our time and energy:

  1. Finances
  2. Family
  3. Health
  4. Leisure
  5. Learning
  6. Inner growth
  7. Home
  8. Community, and
  9. Work

So many people – women, most especially – are searching for a more balanced life. I think we tend to view it as a balance between work and home life, don’t we? However, that’s a simplified lens. If we really want to achieve true balance, there are other aspects of life that need our time and attention, and the Wheel of Life is a good reminder of that.

LISTEN:  Flourish Financially Podcast – Episode 77: The Wheel of Life

How to Use the Wheel of Life to Create a More Balanced Life

I’d like to encourage you to do an exercise, and you can download your own copy of the Wheel of Life to help you through it. You can also use a simple pen and paper and draw your own wheel to get started.

Think about the spokes on the wheel as going from 0 at the center to 10 at the outer edge. Then give each of the nine areas of your life a number on that scale and write the number in. Don’t overthink it; use your gut reactions to label each spoke.

Next, take a look at your wheel and connect all the dots. If the shape they create is fairly round, it means you feel connected and aligned in all areas. If this is the case for you, congratulations! For many people, though, the shape they see on their Wheel of Life is an indication that life is anything but balanced.

Is your wheel flat or partially deflated? Are there tall spikes and low valleys?

If you answered ‘yes’ to either of these questions, you’re probably lacking balance in more than one area across your nine aspects of life – and believe me when I say I know this from personal experience.

How the Wheel of Life Changed My Life (And My Work)

Right before I started Flourish Wealth Management, I looked at my own Wheel of Life and I ranked my work satisfaction as low and my desire for inner growth as high. When I connected the dots on my spokes, I could see a visual representation of the inner imbalance I had begun to feel. I knew that I needed to assess what changes could improve my work situation to find balance going forward. I knew I had to focus on new goals and understand how those goals would impact every other piece of the Wheel. This process eventually led me to leave my job and start my own financial planning firm. It has truly been life-changing for me, which is why I feel so strongly about sharing the Wheel of Life with anyone hoping to achieve a more balanced life.

SEE ALSO: Work-Life Balance Strategies for Female Entrepreneurs

What’s Next for You?

If you’ve been feeling like there’s something missing in one or more areas of your life, I hope you’ll download this complimentary Wheel of Life template and take the first step toward change. Determine if there are areas in your life that may not be getting the attention they deserve, or areas where you’re feeling burdened or unfulfilled. Once you’ve examined your Wheel of Life, choose one small action step that could help you find a little more balance and fulfillment. Try to round out that wheel just a little bit with one small step toward the future you envision for yourself.

It might sound simple, but the Wheel of Life exercise is incredibly valuable. It will help you get to the heart of your values and priorities, establish meaningful financial and life goals, and create a decision-making framework for your money and your future. In short, using this tool can help you develop more satisfaction, a better sense of well-being, and a life that allows you to flourish every day.

How Flourish Wealth Management Can Help

The right financial plan isn’t just about the money – it’s a reflection of what you value most, and it’s a path to fulfillment. I’m passionate about helping you use the Wheel of Life to clarify which aspects of life you value most and create a financial plan that takes into account your unique values, emotions, and aspirations.

If you’d like to learn more, reach out to us today to schedule a complimentary “Get Acquainted” meeting. We look forward to helping you achieve the financially secure, balanced life you aspire to achieve.

About the Author

Kathy Longo, CFP®, CAP®, CDFA

Kathy Longo, CFP®, CAP®, CDFA

Kathy Longo brings over 25 years of expertise and experience to Flourish Wealth Management. Kathy is wholly dedicated to improving the life of each client and finds joy in making complex matters simple and easy to understand. She excels at asking the right questions, uncovering new possibilities and implementing the most advantageous strategies for success. Playing such a pivotal role in her clients’ lives remains an honor and a privilege. After earning a degree in Financial Planning and Counseling from Purdue University, she began her career at a small firm in Palatine, Illinois where she worked directly with clients while learning to build a viable, client-centric business. Over the years, she gained extensive knowledge and wisdom working as a wealth manager, financial planner, firm manager and business owner at notable, various sized companies in both Chicago and Minneapolis.


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